5704 W Glenn Dr
Glendale, AZ 85301

CBRE and the Net Lease Property Group in Phoenix have exclusively listed this single-tenant BMO Harris Bank (the “Property”) located at 5704 West Glenn Drive in Glendale, Arizona. The building is made up of ±6,841 rentable square feet on approximately 28,000 square feet of land. The investment consists of an initial 15-year absolute triple-net (NNN) lease with BMO Harris Bank, which has approximately 10.5 years remaining. The lease calls for 2% annual rental increases in the initial term and throughout the eight (8), 5-year option periods. BMO Harris Bank is the 8th largest bank, by assets, in North America. More than 12 million customers use BMO Harris Bank for personal and commercial banking, wealth management, and investment services. (Source: BMO Harris) The Property is strategically located in the heart of Historic Downtown Glendale. Adjacent to the Property is the Glendale Civic Center, a ±40,000 square foot event center that hosts a variety of conferences and social events (Source: Glendale Civic Center). Glendale is a major sports hub for professional and collegiate sports. Glendale is home to the Arizona Cardinals and Arizona Coyotes, as well as the Spring Training destination of the Los Angeles Dodgers and Chicago White Sox. The Property is located roughly 5 miles away from the Westgate Entertainment District, which is anchored by Gila River Arena, home of the Arizona Coyotes, and adjacent to the State Farm Stadium, home of the Arizona Cardinals. The Westgate Entertainment District is a vibrant shopping center filled with a variety of shopping, dining, and entertainment options. Since 2017, Glendale (the “City”) has held a General Obligation (GO) bond rating of “A1” with Moody’s, indicating that the City has stable financial backing and ample cash reserves. The rating was upgraded in 2017 due to the City’s operating revenue growth, long-term strengthening in the City’s economy, tax base, and socioeconomic profile, and demonstrated record of sustainable budgeting and financial management practices. (Source: glendaleaz.com)