November 22, 2022 – Kyle Danielson and Joe Pellecchia of Horvath & Tremblay have successfully completed the sale of a BMO Harris Bank in New Berlin, Wisconsin. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,125,000.
BMO Harris Bank is located at 15450 West National Avenue in New Berlin, Wisconsin. The Property was constructed for BMO in 2009, and they have been operating at this location for over 12 years. There are currently over 7 years remaining on their Absolute NNN Ground Lease, followed by four (4), 5-year renewal options. The lease calls for attractive 10% rent increases throughout the base term and at the beginning of each renewal option. The Property is strategically located next to the major signalized intersection of West National Avenue and South Moorland Road which sees more than 42,000 vehicles per day. The location serves as one of the primary commercial areas in New Berlin with numerous national retailers and restaurants driving traffic to the area. BMO benefits from excellent visibility and convenient access from both West National Avenue and South Moorland Road. The Property includes two dedicated drive-thru lanes and a drive-up ATM, and is across the street from the Pick ‘n Save-anchored Moorland Square Shopping Center.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.