May 10, 2023 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of a fee simple condominium interest in a Bank of America in Woodbridge, Virginia. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,900,000.
The Bank of America is located at 1701 Financial Loop in Woodbridge, Virginia. The Bank of America retail branch consists of 5,145 square feet on the ground level (unit 1) of the building with five (5) dedicated drive through lanes, and a drive-up ATM. The building also has a 4,649 square foot lower level (unit 2) that is currently vacant. Bank of America has been at this location since 2009 and executed a 10-year lease extension in 2015. Bank of America has 1+ years remaining on their lease with one (1), five-year renewal option. The lease calls for annual increases based upon the annual change in the CPI. Bank of America is well positioned along Financial Loop, with outstanding visibility, frontage, and access from Old Bridge Road. The location is part of an exceptional trade area located 1-mile from Interstate 95 and VA Route 123 and is 1.75-miles from the Woodbridge Train Station and US Route 1, the area’s primary commercial corridor. Woodbridge is a bedroom community, located 20-miles south of Washington D.C. The Property benefits from numerous national tenants and retail centers drawing significant traffic to the area and has a significant residential base from which to draw.
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.