Bank of America
Retail | 5.00% CAP | 4,700 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction Bank of America ground lease located at 788 Marne Highway in Moorestown, New Jersey (the “Property”). The new construction retail branch will consist of a 4,700 square foot building with two dedicated drive through lanes on 1.36-acre parcel. Bank of America signed a new 15-year ground lease with three (3), five-year renewal options. The Lease call for attractive rent increases of 10.0% every five years throughout the base term at the start of each renewal option period.
The new construction Bank of America will be well positioned at the intersection of Marne Highway and Centerton Road, in the center of an exceptional retail trade area just off Interstate 295 and the New Jersey Turnpike. The Property will benefit from outstanding frontage and visibility, with access from both Marne Highway and Centerton Road and features two dedicated Drive-Thru ATM/Teller lanes. Bank of America is relocating from a very successful and well-established location less than 2 miles from the new construction Property. As of 6/30/2025, the relocating Bank of America Branch at 3131 NJ-38 in Mount Laurel Township held an exceptional deposit base of $498,576,000.
Investment highlights
NEW CONSTRUCTION LONG-TERM LEASE: Bank of America has a 15-year Ground Lease with three (3), 5-year renewal options. The Property is set to be completed in 2026 with an anticipated rent commencement date of January 5, 2026.
ATTRACTIVE RENT INCREASES: The lease calls for attractive 10.0% rental increases every five years through the primary term and at the start of each of the renewal option periods, providing the investor with an attractive increase in revenue and a hedge against inflation.
BEST-IN-CLASS CREDIT TENANT: Bank of America, N.A. stands as one of the highest rated retail tenants in the net lease market and boasts a high investment-grade long-term credit rating of A+ (S&P) and Aa2 (Moody’s).
GROUND LEASE: The Bank of America lease is a ground lease (Absolute NNN) with the tenant responsible for all operating expenses, repairs, maintenance, and replacements to the entire property (building and grounds).
OUTSTANDING LOCATION: The new construction Bank of America will be well positioned at the signalized intersection of Marne Highway and Centerton Road along the border of Moorestown and Mount Laurel Township. The Property will feature outstanding frontage and visibility, with access from both roads as well as two dedicated Drive-Thru ATM/Teller lanes. The Property is directly across from Centerton Square, a premier regional shopping center anchored by Wegmans, Target, Costco, and Walmart, along with numerous other national retailers and restaurants driving traffic to the area. The site is less than 1-mile from Interstate 295 and the New Jersey Turnpike, providing exceptional regional connectivity, and is adjacent to Moorestown’s Lockheed Martin facility, further strengthening the daytime population base.
RELOCATION OF HIGH PERFORMING BRANCH: Bank of America is relocating from a very successful and well-established location less than 2 miles from the new construction Property. As of 6/30/2025, the Bank of America Branch at 3131 NJ-38 in Mount Laurel Township eld an exceptional deposit base of $498,576,000.
STRONG DEMOGRAPHICS: Over 53,900 people live within 3 miles of the Property with an average household income of $178,154. An impressive 165,900+ people live within 5 miles of the Property with an average household income of $125,308.
HIGH TRAFFIC COUNTS: Approximately 19,000 vehicles per day pass by the Property at the signalized intersection of Marne Highway and Centerton Road. Property Rendering
TRADE AREA: Additional retailers driving traffic to the area include Costco, Target, Wegmans, Burlington, TJ Maxx, TopGolf, DSW, Five Below, PetSmart, Macy’s, Chick- fil-A, Chipotle, Jersey Mike’s, T-Mobile, Golf Galaxy, Mattress Firm, Panera, Crumbl, Sally Beauty, F45, Yankee Candle, Massage Envy, mezeh, Joseph A Bank, PNC Bank, Truist Bank. The trade area also hosts a major facility for Lockheed Martin with over 5,000 employees.
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