Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a $2,462,000 sales transaction for a 5,047 square foot building leased by BMO Harris Bank in Scottsdale, Arizona.
Part of BMO Financial Group which mainly operates in the United States and Canada, BMO Harris Bank is one of the largest banks in the Midwest. The tenant had just entered a ten year triple-net lease in March 2015, leaving the property with more than nine years remaining on the lease and eight five-year renewal options at the time of purchase.
Ryan Bennett and Ryan Barr, principals of Lee & Associates – North San Diego County and founders of Barr & Bennett Net Leased Investment Group, represented the buyer, Maple Leaf2. The seller, Sisk, LLC, was represented by Equity Investment Advisors.
“Our client chose to purchase the property as part of a 1031 exchange”, explained Barr.
Barr & Bennett Net Leased Investment Group, of Lee & Associates-North San Diego County, specialize in the acquisition and disposition of net leased assets nationwide.