Bank of America

Investment Overview

Newmark is pleased to offer the fee interest in the Bank of America pad at 47th Street Pavilion, an absolute NNN ground lease with over $144,000,000 on deposit. Bank of America recently remodeled the branch, evidencing their commitment to this location. This location was built nearly 20 years ago with the tenant coming up on their options and the ability to push rents to 95% of FMV.

Investment Highlights

• High Credit | Fortune 100 Credit Tenant. Bank of America is one of the largest financial institutions in the world with a market cap exceeding $410 billion, TTM revenues of $117 billion and a deposit base of over $1.2 trillion.
• Absolute NNN Lease | No Management. Tenant pays all taxes, insurance, and CAM directly, making this a truly passive and hand-off investment.
• High Deposit Base. This location has over $144,000,000 on deposit, making it the 2nd highest deposit base in the Antelope Valley. Bank of America has four locations in the market.
• Stable & Proven Tenancy. Bank of America has operated here for 19 years and is well established in the community. Their recent branch remodel validates their longterm commitment to this location.
• Premier Location. Located at the signalized corner and primary ingress/egress off 47th Street.
• Pad to Super Target & Home Depot Anchored Shopping Center. Ideally situated on a pad within 47th Street Pavilion, the areas #1 retail destination anchored by the area’s only Super Target and Home Depot. The property drew 6.5 million visits in 2025 and is the top retail location in ZIP 93552. The Bank of America branch drew 377.9K visits in the past year (Placer.ai) and benefits from co-tenancy including Target, Home Depot, Ross, dd’s, PetSmart, Chipotle, Starbucks, El Pollo Loco, IHOP, Dave’s Hot Chicken, Handels Ice Cream, Pacific Dental, Burger King, Yohsinoya, and High Desert Medical Group.