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BANK OF THE WEST1633 E. MAIN STREET, ESCALON, CA 95336
OFFERING MEMORANDUM
DISCLAIMERThe material contained in this investment offering is strictly confidential and should be used only for the purpose of considering the purchase of the property described within. This information should not be distributed to any third party without the written consent of Avison Young- Northern California, LTD or Owner, or used for any other purpose other than to evaluate the possible purchase of the Property.
Avison Young- Northern California, LTD is the only party authorized to represent the Property Owner (“Owner”) in connection with the sale of the Property and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this investment offering.
Neither Avison Young- Northern California, LTD or the Owner make any representations or warranties, expressed or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This investment offering brochure may include information and estimates by Avison Young- Northern California, LTD with respect to the projected future performance of the Property and these assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Avison Young- Northern California, LTD and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this investment offering, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered real estate purchase and sale agreement between the recipient and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or Avison Young- Northern California, LTD, nor any of their officers, agents, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Any recipients of this investment offering brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This investment offering brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the investment offering brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed real estate purchase and sale agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the Avison Young- Northern California, LTD from any liability with respect thereto.
1. INVESTMENT HIGHLIGHTS
2. TENANT OVERVIEW
3. EXECUTIVE SUMMARY
4. PROPERTY OVERVIEW
Randy KellerPrincipal, Managing DIrectorCA License #[email protected]
D 650.425.6425C 650.740.1666
Kevin KlinkVice PresidentCA License #[email protected]
D 415.349.3393T 415.322.5050
AVISON YOUNG NORTHERN CALIFORNIA CAPITAL MARKETS GROUP
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Redcrest
Petrolia
Alderpoint
Zenia
Ruth
Forest Glen
Knob
Platina
Rosewood
Red Bluff
Los Molinos
VinaCorning
Orland
Elk Creek
Alder Springs
Artois
Bluegum
Willows
Princeton
Colusa
Williams
Arbuckle
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Trowbridge
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Dixon
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RanchoCordova
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Sutter Creek
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Dardanelle
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Lundy
Lee Vining
Mono Mills
June Lake
Yosemite Valley
Incline
Crestview
Toms Place
Bishop
KeoughHot Springs
Big Pine
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Independence
Manzanar
Lone Pine
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Cartago
Round Valley
MammothLakes
WhitmoreHot Springs
MonoHot Springs
Bridgeport
Jackson
Angels Camp
Copperopolls
Oakdale
Manteca
Salida
Vernalis
Ceres
Turlock
Patterson
Brentwood
Discovery Bay
Diablo
Clayton
Antioch
PittsburgMartinez
La Grange
Hornitos
Columbia
SonoraTuolumne
Groveland
Coulterville
Midpines
Mariposa
Catheys Valley
Wawona
Fish Camp
Oakhurst
Coarsegold
Auberry
Tollhouse
Shaver Lake
Sawmill Flat
Hume
Grant Grove
Pinehurst
Three Rivers
Camp NelsonSpringville
Ponderosa
Kernville
Bodfish
Twin Oaks
Visalia
Tulare
Exeter
Lindsay
Porterville
Terra BellaPixley
Earlimart CaliforniaHot Springs
Posey
GlennvilleWoffordHeights
Weldom
Delano
McFarland
Wasco
Shafter
Oildale
Lamont
Reedley
Dinuba
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Friant
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Le Grand
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Walker
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Durham
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Watson
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Washington
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OlympicValley
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Herlong
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Lower Lake
Geyserville
Healdsburg
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Jenner
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SebastopolYountville
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Sonoma
Novato
Mill Valley
Benicia
Larkspur
Berkeley
El Cerrito
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San Pablo
Daly City
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San Leandro
Castro Valley
HalfMoon Bay
Pescadero
La Honda
Brookdale
Scotts Valley
Morgan Hill
Gilroy
Dunneville
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San JuanBautista
Hollister
Ridgemark
Salinas
Soledad
Greenfield
Paicines
Panoche
Bitterwater
King City
San Lucas
Lockwood
LakeNacimiento
Parkfield
Cholame
Annette
Buttonwillow
McKittrick
BlackwellsCorner
Semitropic
Shandon
Bradley
San Miguel
Paso Robles
Templeton
Creston
Pozo
Morro Bay
Atascadero
San LuisObispo
Idria
Coalinga
Cantua Creek
Five Points Riverdale
Hanford
Corcoran
Kettleman City
Lemoore
Alpaugh
Murray
Avenal
Huron
Tranquility
San Joaquin
San Benito
MerceyHot Springs
Monterey
Carmel-By-the-Sea
TassajaraHot Springs
Lucia
Plaskett
Gorda
Ragged Point
San Simeon
Cambria
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Watsonville
Foster City
Menlo ParkMilpitas
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SunnyvaleSantaClara
Mountain View
Los Gatos
Saratoga
Cupertino
Campbell
Belmont
SouthSan Francisco
Alameda
Rohnert ParkBodega Bay
Middletown
HiddenValley Lake
Spyrock
Chico
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Roseville
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Lodi
Stockton
Modesto
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San Rafael
Richmond
Palo Alto
Santa Cruz
San Mateo
Davis
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Fair�eld
Folsom
Santa Rosa
Napa
Vallejo
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Fremont
Livermore
Tracy
Hayward
Fresno
Bakers�eld
Sacramento
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San Jose
San Francisco
Pleasanton
Walnut Creek
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BANK OF THE WEST1633 FIRST STREET, ESCALON, CA 95320
OFFERING MEMORANDUM
AVISON YOUNG | 3
1. INVESTMENT HIGHLIGHTS
2. TENANT OVERVIEW
Avison Young Northern California Capital Markets Group is pleased to present this opportunity to purchase this building currently leased by Bank of the West in Escalon, California with five years left on the first of the four extensions of the Term of the Lease.
Property
• Corporate guaranteed lease by Bank of the West
• 2% rent increases annually
• 5 years remaining on the first of four, 5-year renewal options
• Built in 2007
In 1874, Bank of the West opened its doors on the California frontier as Farmers National Gold Bank. One of just 10 banks nationwide authorized to issue paper currency backed by gold reserves, the San Jose bank helped people build homes, finance farms, and grow their businesses.
Today, Bank of the West operates more than 600 retail, wealth, commercial and business banking offices in 23 states. Prudent credit underwriting, a diversified loan portfolio, and careful risk management have allowed us to grow to more than $80.7 billion in assets. It is one of the nation’s largest banks, yet it preserves its local feel and its award-winning style of relationship banking that ensures superior customer service.
1633 E. MAIN STREETESCALON, CA
Property Name ......................................................................................................................................Bank of West
Property Type ............................................................................................................................................. Retail Bank
Parent Company Trade Name ................................................. BNP Paribas, Bancwest Holding, Inc.
Stock Symbol ..............................................................................................................................................................BNP
Number of Locations..............................................................................................................................................600
Headquartered ........................................................................................................................... San Francisco, CA
Year Founded ............................................................................................................................................................1874
BANK OF THE WEST1633 FIRST STREET, ESCALON, CA 95320
OFFERING MEMORANDUM
AVISON YOUNG | 4
3. EXECUTIVE SUMMARY
BANK OF THE WEST1633 FIRST STREETESCALON, CA 95320
List Price ........................................................................... $1,900,000
Cap Rate .......................................................................................................................... 5.3%
Year Built ........................................................................................................................ 2007
Beginning Lease Date
Period Minimum Monthly Rent
Minimum Annual Rent
Increases Cap Rate
Option Periods12/1/2017 (Current) 11-15 $8,394 $100,728 2% Annually 5.3%12/1/2022 16-20 $9,267 $111,204 2% Annually 5.9%12/1/2027 36-40 $10,232 $122,778 2% Annually 6.5%
Tenant Bank of the WestType of Ownership Net LeaseLease Guarantor Bank of the WestLandlord Responsibilities NoneOriginal Lease Term 10 Years Lease Execution Date 11/29/2007Initial Lease Term Expiration 11/30/2017Options Four (4) successive Five (5) year options
Operating Data
Tenant Summary
BANK OF THE WEST1633 FIRST STREET, ESCALON, CA 95320
OFFERING MEMORANDUM
AVISON YOUNG | 5
4. PROPERTY OVERVIEW
Physical Description
Property Name .....................................................................Bank of the West
Address .................................1633 First Street aka 1633 E. Main Street
City, State, Zip .................................................................. Escalon, CA 95320
APN ..........................................................................................................227-070-25
Site Description
Number of Stories ..........................................................................................One
Year Built .............................................................................................................2007
GLA .................................................................................................................4,755 SF
Lot Size ...........................................................................0.54 Acres (23,400 SF)
Type of Ownership ..........................................................................................Net
Parking...................................................................................................±24 Spaces
Construction
Foundation ...................................................................................Concrete Slab
Exterior ........................................................................................................Masonry
Parking Surface ........................................................................................ Asphalt
Roof ..........................................................................................................................Flat
MAIN STREET
MAIN STREET
FIRST STREET
VIKING STREET
CALIFORNIA STREET
1633 First