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  • BankOfAmerica Spring TX CREXi

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    Stan Johnson Company is offering the opportunity to purchase a ground lease interest in a Bank of America property in Spring, Texas for $4.1 million, representing a 5.16% capitalization rate. The property features an absolute net-net-net lease with Bank of America until at least 2028 and potential extensions until 2041, along with 10% rental increases in 2023 and at the start of each renewal period. The single-tenant property benefits from its location in rapidly growing Spring near Houston, with proximity to major retailers and employers driving significant traffic.

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    Stan Johnson Company is offering the opportunity to purchase a ground lease interest in a Bank of America property in Spring, Texas for $4.1 million, representing a 5.16% capitalization rate. The property features an absolute net-net-net lease with Bank of America until at least 2028 and potential extensions until 2041, along with 10% rental increases in 2023 and at the start of each renewal period. The single-tenant property benefits from its location in rapidly growing Spring near Houston, with proximity to major retailers and employers driving significant traffic.

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    57 views1 page

    BankOfAmerica Spring TX CREXi

    Uploaded by

    :Lawiy-Zodok:Shamu:-El
    Stan Johnson Company is offering the opportunity to purchase a ground lease interest in a Bank of America property in Spring, Texas for $4.1 million, representing a 5.16% capitalization rate. The property features an absolute net-net-net lease with Bank of America until at least 2028 and potential extensions until 2041, along with 10% rental increases in 2023 and at the start of each renewal period. The single-tenant property benefits from its location in rapidly growing Spring near Houston, with proximity to major retailers and employers driving significant traffic.

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    © All Rights Reserved
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    Bank of America | Spring, TX Click Here for Website &

    The Offering Full Offering Memorandum


    Stan Johnson Company is pleased to offer for sale to qualified investors, the opportunity to purchase
    a ground lease interest in the Bank of America property located at 5938 FM 2920 in Spring, Texas (the
    “Property”). The absolute NNN lease has over 6 years remaining, along with 3, 5-year renewal options
    that permit Bank of America to occupy the Property until 2041. Bank of America’s lease features a For more information, contact:
    robust rent increase of 10% at the beginning of 2023, as well as 10% increases in each of the renewal Mark Lovering | Associate
    options. mlovering@stanjohnsonco.com
    +1 312.777.2441

    Purchase Price: Cap Rate: BJ Feller | Managing Director & Partner


    bfeller@stanjohnsonco.com
    $4,100,000 5.16% Isaiah Harf | Regional Director & Partner
    iharf@stanjohnsonco.com
    Property Synopsis Investment Highlights
    Pat Weibel | Director
    The Property is located in the city of Spring, a • Best-In-Class Tenant - A+ Credit pw@stanjohnsonco.com
    suburb of Houston located 27 miles north of Andy Gatchell | Associate Director
    downtown. Spring is currently experiencing • Strong Performing Location with High Deposit agatchell@stanjohnsonco.com
    nation-leading growth rates, with the population Counts
    size of the area within 1 mile of the Property Blaise Bennett | Associate Director
    • Absolute NNN w/ Rental Increases - Income bbennett@stanjohnsonco.com
    increasing by more than 4.69% YOY. The dense
    Tax-Free
    population of the area is an attractive attribute Rachel Walz | Associate
    and will help Bank of America succeed well • High Growth Houston Suburb rwalz@stanjohnsonco.com
    into the future from this location. The Property
    is situated as an outparcel to a large Walmart • Proximity to ExxonMobil Houston Campus Steve Weinrauch | Senior Analyst
    sweinrauch@stanjohnsonco.com
    Supercenter. Walmart is a major economic driver
    for the area and helps drive enormous traffic to • Strategically Situated in Major Retail Corridor
    In Association with
    the retail corridor and Bank of America. Jim Gibson
    • Outparcel to Walmart Supercenter TX Broker License #392926

    Stan Johnson Company


    303 East Wacker Drive | Suite 1111
    Chicago, Illinois 60601
    P: +1 312.240.0127 | F: +1 312.240.0158

    stanjohnsonco.com

    Property Photos

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