Anvers Capital Partners of Peak Commercial is Exclusive Representative for Seller in Transaction
— Jack Minassian, Managing Partner of Anvers Capital Partners
SIMI VALLEY, CALIFORNIA, U.S., June 13, 2023/EINPresswire.com/ — Anvers Capital Partners (anverscp.com) of Peak Commercial, a leading commercial real estate brokerage in Southern California, has announced 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 in December 2025.
“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 55% 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 expertise and commitment to excellence in every aspect of their work,” says Will White, Office Manager at Peak Commercial. “Their deep industry knowledge, careful 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.
ABOUT PEAK COMMERCIAL:
Peak Commercial (peakcommercial.com) is a full-service commercial real estate brokerage firm that specializes in sales, leasing, management, and investment of commercial properties in Southern California. With over 30 years of experience and a team of dedicated professionals, Peak Commercial provides comprehensive solutions for owners, investors, tenants, and developers across various property types and markets. Peak Commercial is part of The Peak Companies network, (peakcorp.com) a one-stop resource for a broad range of real estate services.