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| Pomona First Federal Bank (PFF) |
9210 Bear Valley, Apple Valley, California
Purchase Price: $2,300,000
• Twenty (20) Year Primary Lease
• Absolute Net Ground Lease (No Landlord Responsabilities)
• Fixed rental increases of 12.5% paid every five years
• Four (4) x 5-year options
Land Area: ± .97 acres, Building Area: ±3,600 SF
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Willis Ventures is excited to announce that our brokerage has closed escrow on a Pomona First Federal Bank in Apple Valley, California. The property sold for $2,300,000 with a 5.00% capitalization rate.
PFF Bancorp, Inc. operates as the holding company for PFF Bank & Trust (bank), which offers various banking and financial services to individuals and companies located primarily in southern California. The bank’s investment protfolio consists of investment grade corporte, and U.S. Treasury and agency securities. As of June 30, 2005, it operated 29 full service branch offices located throughout southern California. The compnay wasa establised in 1982 and is headquartered in Pomona, California.
The property is currently under new construction and has an excellent intersection location along the south-west corner of Bear Valley and Apple Valley Road in Apple Valley, CA. It’s located in the Target and Staples anchored center on a prime corner parcel of the Jess Ranch Marketplace. National retailers in the immediate area include: Applebees’s Restaurant, 99 Cent Store, Mervyn’s, WinCo Foods, Petsmart, Rite Aid Pharmacy, Bank of America, Best Buy and Bed Bath & Beyond.
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