Wells Fargo Ground Lease

Austin
,
TX
Texas

Call for Details

$

2,928,000

Call for Details
5.25
%
CAP Rate

Exercised Renewal Early

Showing their Long-Term Commitment to this Location

New $1B, 133-Acre Apple Campus

Half a Mile Down the Road to House 15,000 Employees

Irreplaceable Location

Strategic Austin Location with Strong Underlying Land Value 15 Miles from Downtown

Property details
  1. Trophy NNN Corporate Ground Lease to Wells Fargo (NYSE: WFC)
    • Tenant has Extended their Renewal Early, Showing their Long-Term Commitment to the Site
    • Scheduled Rental Escalations at the Star of Each Option Period
  2. Tenant has Operated at this Location for Nearly 20 Years
  3. Irreplaceable Location Down the Street from New 133-Acre Apple Campus
    • $1 Billion Real Estate Development with 15,00 Employees
    • $400M Expansion Expected to be Completed in June 2025
  4. Just Up the Street from Apple's Original Austin Campus
    • Recent $4.5 Million Renovation by Apple to be Completed End of 2024
  5. Strong Underlying Land Value with Below Market Rent Ensuring Tenant's Long Term Commitment to this Location
    • Open Since 2005 and has $69M in Deposits and 42% Market Share
  6. Investment Grade Tenant Rated A1 by Moody's & BBB+ by S&P
    • Wells Fargo has Over 7,200 Locations & 13,000 ATMs in 37 States & 35 Countries
    • Ranked #34 in Fortune 500 with a Revenue of $82.6 Billion and Net Income of $19.1 Billion in 2023
  7. Directly Across the Street from H-E-B-Anchored Shopping Center, the Dominant Grocer in the Market
  8. 3.5 Miles from Mixed-Use Pearson Ranch Development
    • To Feature 2.6 Million Square Feet of Office Space, 200,000 Square Feet of Retail, Restaurant, and Community Space, Two Hotels, Thousands of Multifamily Units, and 30 Acres of Parkland
    • Phase I Expected to be Completed End of 2024
  9. 15 Miles from Downtown Austin
    • 11th Most Populous City in the U.S.
  10. One of the Fastest Growing Metros in the U.S.
    • MSA GDP of $222.05 Billion
  11. Prominent, High Visibility Location at the Intersection of Parmer and McNeil
    • 71,146 AADT Combined
  12. Total Daytime Population of 301,274 within 5 Miles of Site
  13. Average Household Income of $140,066 within 3 Miles of Site
  14. No State Income Tax in Texas
Listing leads
Putnam Daily
Managing Partner
CA RE Lic #01750064
Lindsey Snider
Senior Partner
CA RE Lic #01443387
Property Specs
Tenancy
Single Tenant
Multi Tenant
Building Size
4,200
SF
Lot Size
0.8945
AC
View Offering Memorandum
View Offering Memorandum
Listing leads
Putnam Daily
Managing Partner
CA RE Lic #01750064
Lindsey Snider
Senior Partner
CA RE Lic #01443387