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The Anvers Capital Partners team at Peak Commercial, is pleased to announce the listing of a prominent Bank of America office building located at 450 American Street in Simi Valley, California. The property presents a remarkable investment opportunity in a highly sought-after area of Los Angeles County.
The two-story office building, originally constructed in 1990 as an industrial facility and later converted into office space in the late 1990s, spans an impressive total area of 209,404 square feet. With its prime location in Simi Valley, this Grade-A property offers investors a chance to acquire a prestigious asset.
Bank of America currently occupies the entire building on a triple net (NNN) lease basis, ensuring financial stability for the prospective buyer. The lease agreement includes an annual rental income increase of 3% and provides two additional five-year extension options beyond its expiration.
“450 American presents an exceptional opportunity for investors seeking a high-quality investment in a desirable location,” said Jack Minassian, Managing Partner of Anvers Capital Partners. “The long-standing occupancy of Bank of America and their recent commitment to the site further solidify the property’s appeal.”
With a 100% occupancy rate and an initial capitalization rate of 8.78%, the property generates strong in-place cash flow. The listing price of $36,500,000 reflects a price-per-square-foot of $174, which is well below the estimated replacement cost. Extensive parking available on-site offers approximately 5.5 spaces per 1,000 rentable square feet. This includes a total of 1,148 parking spaces available, 585 of which are in a dedicated parking structure, adding to the property’s allure.
“The Anvers Capital Partners team continues to demonstrate their unwavering expertise and commitment to excellence in every aspect of their work,” says Will White, Office Manager at Peak Commercial. “Their deep industry knowledge, meticulous attention to detail, and personalized approach have been instrumental in presenting this remarkable investment opportunity at 450 American.”
Interested parties are encouraged to contact Anvers Capital Partners or Peak Commercial for further details on this exclusive listing. The sale of 450 American provides an opportunity to inherit a symbiotic relationship with a stable tenant and enjoy strong in-place cash flow while acquiring a prime asset in the heart of Simi Valley.
Peak Commercial is committed to providing you with the latest and most up-to-date information affecting you and your commercial real estate investment portfolio. Contact one of our expert commercial real estate brokers or team members today to learn more.