Wells Fargo Commercial Condo. Price: $2,737,168 NNN Rent: $171,073 CAP: 6.25%

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Steven Porter
5 years ago
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Subject Property ExclusiveOffering Price: $2,737,168 NNN Rent: $171,073 CAP: 6.25% Phone: 212.686.0072 Fax: 212.686.0078 rob@exp1031.

S&P Rating: A Investment Grade Over $261 million in deposits at this location, a 7.

1 Subject Property ExclusiveOffering Price: $2,737,168 NNN Rent: $171,073 CAP: 6.25% Phone: Fax: Wells Fargo Commercial Condo 108 Mill Plain Rd, Danbury, CT Low rent and high deposits in custom built bank building Wells Fargo Bank, N.A. S&P Rating: A Investment Grade Over $261 million in deposits at this location, a 7.41% increase from previous year 2% annual rental escalations Wells Fargo Bank offered to purchase the property which was developed by Commerce Bank Trader Joe s, Rite Aid, Staples, Designer Shoe Warehouse, & Mobile are across the street Average Household Income in 3 miles is $107,912 Fast-growing submarket 7.87% growth in population between 2010 and 2016 projected in 3 miles Brand new roof, HVAC unit, and state of the art energy management system

2 Bank Sales Comps in Connecticut and Rent Comps within 30 Miles Low Rent, Strong Deposits and High Cap Rate (see table) Property Name Property Address Property City State NNN Rent PSF 2016 Deposits Wells Fargo 108 Mill Plain Rd Danbury CT Union Savings Bank 169 Danbury Rd New Millford CT Santander Bank 105 Meriden Rd Waterbury CT People's United Bank 1790 Post Rd Westport CT People's United Bank 125 Danbury Rd Ridgefield CT People's United Bank 14 Mamaroneck Ave White Plains NY People's United Bank 5 River Rd Wilton CT Citibank 33 Broad Street Stamford CT Chase Bank 516 West Ave Norwalk CT Comparable Sales and Rents

3 Investment Overview PROPERTYOVERVIEW: EXP Realty Advisors exclusively presents for sale a triple net Wells Fargo Bank, which occupies 5,481 SF on the ground floor of a 22,065 SF multitenant office building. Wells Fargo currently has over $261,855,000 in deposits at this location, and the bank recently offered to purchase the branch showing their commitment to the location. The rent is low at $31.21 psf especially given that the deposits are some of the highest in the entire WF system. The premises was originally constructed as a single tenant bank building with bank offices and retail branch 25 years ago. Current lease expired in 2016 and was extended by 7 years with one five year option by amendment. Rent escalates 2% each year in the base term and options. The double drive-thru teller is attached and located under the 2 nd floor of the building, which gives Wells Fargo a freestanding footprint. The building also has a brand new roof, new HVAC unit exclusive to Wells Fargo, and state of the art EMS (energy management system) as well as super high speed fiber connectivity serving Wells and the equity trading industry tenants occupying the upper floors. The property is conveniently situated on Danbury s West side with easy access to Exit 2 on Interstate-84, which has traffic counts of 73,700 VPD. The building is close to the border with New York State drawing business from both states. Across the street is a shopping center anchored by Trader Joe s, which also includes Rite Aid, Staples and Designer Shoe Warehouse, and has outparcels leased by Starbucks, Pet Value, and Mobil. The property is located near the intersection of Route 6 and Route 202 on Exit 2 of Interstate I-84. There is a stop light in front of the building at the signalized intersection of Mill Plain Road and Prindle Lane. LOCATIONOVERVIEW: Danbury is a city in northern Fairfield County, Connecticut, approximately 70 miles from New York City. Danbury is the fourth most populous city in Fairfield County, and seventh among Connecticut cities. Fairfield County s Gold Coast helped rank it sixth in the US in per-capita personal income by the Bureau of Economic Analysis in 2005, Connecticut is one of the most affluent states in the US. Fairfield County also has one of the largest concentration of hedge fund and multinational companies in the country. Danbury is home to Danbury Hospital, a 371-bed hospital; Western Connecticut State University, which has more than 34,000 students enrolled; Danbury Fair Mall, the second largest shopping mall in Connecticut as well as the fifth largest in New England; and Danbury Municipal Airport, a public use general aviation airport. LEASE SUMMARY: Lease Expiration Date: 12/31/2023 NNN Rent (as of 01/01/2018): $171,073 (31.21 PSF) Note most banks pay considerably more rent than this (see page 2) Escalations: 2% Annual Rental Escalations Options: 1 (5) Year Option Escalations in Options: 2% Rental Escalations per Option LeaseType: Commercial Condo* INVESTMENT SUMMARY Price: $2,737,168 CAP Rate: 6.25% NNN Rent: $171,073 GLA: Lease Type: Escalations: 5,481 sf Triple Net Commercial Condo 2% annually Deposits: $261,855,000 (highest in the market and growing) *The owner of the office building performs all common area maintenance and bills all the tenants, including Wells Fargo directly, which makes this a passive ownership opportunity for an investor. NO LANDLORD RESPONSIBILITIES. TENANT OVERVIEW: Wells Fargo Bank, N.A. NYSE: WFC S&P Rating: A Investment Grade Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial financial services through more than 8,600 locations, 13,000 ATMs, online (wellsfargo.com), and mobile devices. Headquartered in San Francisco, but decentralized in every way, Wells Fargo does business with 70 million customers and on in three households. Wells Fargo has approximately 269,000 team members in 42 countries and territories across its more than 90 businesses. At the end of fourth quarter 2016, Wells Fargo ranked third in assets among U.S. banks. INVESTMENTOVERVIEW

4 Competition Aerial $90 mm in deposits * $39 mm in deposits * $261 mm in deposits Bank is located on ground floor of an office * building. * $75 mm in deposits AERIAL

5 Branch Deposits History Subject Property's Recent Deposit Growth Year Total Deposits Increase 2016 $261,855, % 2015 $243,788, % 2014 $230,497,000 Rent Schedule Lease Period (Dates) Annual Rent 01/01/17-12/31/17 $167,719* 01/01/18-12/31/18 $171,073 01/01/19-12/31/19 $174,494 01/01/20-12/31/20 $177,984 01/01/21-12/31/21 $181,544 01/01/22-12/31/22 $185,175 01/01/23-12/31/23 $188,878 Renewal Options Lease Period (Dates) Annual Rent 01/01/24-12/31/24 $192,656 01/01/25-12/31/25 $196,509 01/01/26-12/31/26 $200,439 01/01/27-12/31/27 $204,448 01/01/28-12/31/28 $208,537 *Seller will credit the difference between current and escalated rent as of closing. LOCATIONMAP

6 Competition Aerial SANDVIK PUBLISHING HARDWARE DESIGNERS AERIAL

7 Competition Aerial AERIAL

8 Property Photo DOUBLE DRIVE-THRU PROPERTY PHOTO

9 Property Photo PROPERTY PHOTO

10 Parcel Map PROPERTY PHOTO

11 Location Map PROPERTY PHOTO

Demographic Data Radius 3 Mile 5 Mile 10 Mile Population: 2021 Projection 32,037 99,340 242,074 2016 Estimate 31,036 97,106 237,387 2010 Census 28,930 94,034 231,016 Growth 2016-2021 3.23% 2.30% 1.

Indian & Alaskan 225 670 1,007 Asian 2,603 6,747 12,347 Hawaiian & Pacific Island 37 115 185 Other 918 2,833 4,975 U.S.

12 Demographic Data Radius 3 Mile 5 Mile 10 Mile Population: 2021 Projection 32,037 99, , Estimate 31,036 97, , Census 28,930 94, ,016 Growth % 2.30% 1.97% Growth % 3.27% 2.76% 2016 Population Hispanic Origin 7,065 22,932 35, Population by Race: White 24,515 78, ,692 Black 2,738 7,748 11,181 Am. Indian & Alaskan ,007 Asian 2,603 6,747 12,347 Hawaiian & Pacific Island Other 918 2,833 4,975 U.S. Armed Forces: Households: 2021 Projection 11,333 34,928 87, Estimate 10,944 34,118 85, Census 10,041 33,000 82,996 Growth % 2.37% 2.01% Growth % 3.39% 2.76% Owner Occupied 7,587 22,573 65,201 Renter Occupied 3,357 11,545 20, Avg Household Income $107,912 $98,981 $118, Med Household Income $80,411 $75,346 $92, Households by Household Inc: <$25,000 1,349 5,234 10,109 $25,000 - $50,000 1,979 5,954 12,458 $50,000 - $75,000 1,859 5,810 12,346 $75,000 - $100,000 1,312 4,405 11,151 $100,000 - $125,000 1,321 3,718 9,634 $125,000 - $150, ,840 7,160 $150,000 - $200, ,880 9,438 Contact Us EXP Realty Advisors 52 Vanderbilt Ave Suite 2014 New York, NY Our Team Robert James President Phone: (212) rob@exp1031.com Daniel de Sa Director of Sales Phone: (212) dan@exp1031.com PROPERTY PHOTO

WELLS FARGO Ground Lease 115 Bulverde Crossing Bulverde, TX (San Antonio MSA)

SUBJECT PROPERTY WELLS FARGO Ground Lease 115 Bulverde Crossing Bulverde, TX 78163 (San Antonio MSA) Price: $2,391,304 l NOI: $137,500 CAP: 5.75% Phone: 212.972.7457 Fax: 212.686.0078 exp@exp1031.com www.exp1031.com