BMO Harris Bank | Recent 10 Year Lease Extension
33703 North Scottsdale Road Scottsdale, AZ 85266
Price: $2,557,000
Status: Sold
Cap Rate: 4.25%
Year Built: 2004/Ren. 2022
NOI: $108,661
Lot Size: 1.32 acres
Price Per Foot: $506
Lease Type: Abs. Triple-Net
Remaining Term: 10
GLA: 5,047 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale to qualified investors, the opportunity to acquire a fee simple leased 5,047 square foot free-standing BMO Harris Bank property, located in Scottsdale, Arizona (“The Subject Property”). The Property is leased to BMO Harris Bank, N.A. (S&P: A+) on an absolute NNN lease and sits on an approximate 1.3-acre parcel within the busy Scottsdale Westland Medical Office Plaza. This BMO Harris Bank is a full-service banking facility with ATM and multiple drive through lanes.
Established initially in Canada in 1882, BMO Harris Bank (NYSE: BMO) is a publicly traded company serving over 12 million customers globally and holding an investment grade credit rating of “A+” from Standard & Poor’s. In 2021 BMO Harris Bank reported Net Revenues of over $25 billion with an Adjusted Net Income of over $8.7 billion while managing roughly $988 billion in total assets, making BMO the 8th largest bank in North America by assets. BMO Financial Group has the longest-running dividend payout record of any company in Canada, at 193 years.