CBRE is pleased to exclusively present for sale this Wells Fargo branch, a prime, long-term investment opportunity backed by investment-grade credit, a stable lease structure, and a high-performing location in a dense Philadelphia submarket.
The property benefits from a corporate guarantee by Wells Fargo Bank, NA, an A+ rated financial institution (Standard & Poor’s), ensuring strong creditworthiness and security for investors. Additionally, the absolute-net ground lease structure eliminates landlord responsibilities, making this a truly passive investment. Wells Fargo has occupied this property since 2015 with consistent deposit levels, and they recently extended their lease for another 5 years with no concessions, demonstrating their ongoing commitment to this location, with four 5-year option periods remaining.
The subject property features a passive NNN* lease structure, with the tenant responsible for all common area maintenance, real estate taxes, and insurance costs. The landlord is only responsible for maintaining their own liability insurance, which is not reimbursed by the tenant.
The NNN* lease also includes 10% rental increases every 5 years, including in each of the four 5-year option periods, offering potential for significant yield growth.
This branch is a high-performing asset, evidenced by its strong deposit history and 24-hour customer access via an on-site ATM. The property also features enhanced security measures, requiring a Wells Fargo debit or credit card swipe/tap for entry, ensuring a safe and reliable banking environment.
Strategically positioned in a dense and growing Philadelphia trade area, the property benefits from strong demographics and convenient accessibility. Wells Fargo fronts on Allegheny Ave (14,000+ VPD), offering great visibility and signage, and is adjacent to a Bank of America branch, making this a key banking destination in the area.