Banc of California - Fig Garden Village
National Credit Tenant | 10-Year Term
Marketing description
Colliers is pleased to exclusively offer for sale a single tenant net-leased Banc of California located within Fig Garden Village – a premier Whole Foods Anchored ±290,000 SF open-air retail and entertainment destination located in a high growth trade area in the Fresno, CA MSA. The property consists of a ±4,333 SF freestanding building with drive-thru ATM services positioned on a ±0.43 AC parcel.
Banc of California acquired Pacific Western Bank in 2023 and became the third largest bank headquartered in California after the all-stock merger. The asset benefits from a 10-Year lease with 7 Years of remaining term, and 3% annual increases, including options. The site is strategically positioned on N Palm Ave. and Shaw Ave., with combined traffic counts of ±69,446 VPD. The site is located 1-mile east of the Yosemite Freeway with an additional ±146,000 vehicles per day.
Fig Garden Village is a premier open-air shopping center that offers ample parking and attracts 3.6 million annual visits, with notable anchors and co-tenants, including a top performing Whole Foods Market, Williams Sonoma, Pottery Barn, Anthropologie, ARIAT, Columbia, lululemon, Banana Republic, and many more! With its highly desirable location, elevated tenant lineup, and enduring community appeal, Fig Garden Village continues to serve as both a vibrant retail hub and a regional destination for discerning shoppers.
Investment highlights
National Credit Tenant | Long Term Lease & Rent Increases
• Banc of California is a publicly traded company (NYSE: BANC) and is the 3rd largest bank headquartered in California
• 10-Year Lease with One 5-Year Option
• 3% annual rent increases, including options
Strategically Located | Destination Retail Location
• Positioned at the signalized intersection of Palm Rd. and Shaw Ave. (±69,446 VPD) – a main east/ west commuter thoroughfare connecting to the Yosemite Freeway (±146,000 VPD)
• Fig Garden Village is home to the top performing Whole Foods Market within 50-miles
• Other national retailers include Williams Sonoma, Pottery Barn, Anthropologie, ARIAT, Columbia, lululemon, Banana Republic, and many more
High Growth Trade Area | Strong Surrounding Development
• Future demand drivers include the newly developed 49-Acre Fresno Sports Complex, and expansion projects for Downtown Fresno, Fresno Yosemite International Airport, and the Fresno Innovation District
• Improved access is under development with the Veterans Boulevard Project – further connecting the property to the boulevard and a new interchange at State Route 99
Affluent Demographics | Robust Housing Pipeline
• Strategically positioned in Fresno’s most affluent neighborhood, the center benefits from average household incomes exceeding $134,441 within a one-mile radius
• Fig Garden is a dominant lifestyle destination within Central California, drawing from a trade area population of over 1 million residents and experiencing strong daytime employment within a 5-mile radius (192,077 workers, 56% white-collar)
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
