Interested in Purchasing Bank of America Property for Investment?
About Bank of America :
Bank of America – The 2nd Largest Multinational Financial and Banking Service Company in the US
Bank of America is one of the most prominent multinational corporations for financial and banking services in the US. Operating more than 5100 banking centers, call centers, 16,300 ATMs and mobile as well as online banking platforms, the company is serving worldwide since 200 years. In fact, it is constantly striving to expand its reach worldwide be increasing its numbers of banking centers every year.
The current market value
Being a public sector company registered under New York Stock Exchange (NYSE) with the ticker name of BAC, Bank of America ranks 11th in the list of Global 2000 companies announced by Forbes. According to Forbes, the company ranks 68thamongst the most valuable brands in the world. Not only this, the company also occupies 59th position in terms of sales, 18th position in terms of profit, 10th rank in terms of assets and 37th position in terms of market value according to Forbes.
Its current market value as of May 2016 accounts for $156 billion. Furthermore, according to the list of Fortune 500 companies, Bank of America occupies the 26th rank worldwide with overall revenue of $93,056 Million. However, it shows an overall profit growth of 228.7% this year that amounts for $15,888 million. The company also showed an incredible sale of $91.5 billion this year with the support of 213,000 employees according to Forbes.
Its origin story
Who is Bank of America? The answer to this question involves a great history that shapes every aspect of the company since the time it established till today. Covering a huge heritage of over 200 years, the company laid its foundation stone late back in the year 1904 on October 17. Initially, the name of the bank was Bank of Italy headed by a visionary leader Amadeo Pietro Giannini at San Francisco.
With the growing years, the bank came across numerous leaps and bounds and in the year 1922, Giannini laid the foundation of Bank of America and Italy in Italy by taking over the Banca Dell’Italia Meridionale. The year 1928 marks the merger of Giannini with the Bank of America in Los Angeles lead by Orra E. Monnette. Furthermore, on 3rd November 1930, the Bank of Italy renamed to Bank of America National Trust and Savings Association.
Having its headquarters in Charlotte, North Carolina at US, the company today operates its numerous banking offices across California, Canada, Europe, Asia Pacific, Latin America, Africa and Middle East. A big turnover came for the company in the year 2008, when Bank of America purchased Merrill Lynch & Co. Inc. in $50 billion. At present, the company operates its 10 subsidiaries worldwide to serve the financial needs of individuals, corporate segment and investors.
How it functions?
An internationally acclaimed leader in corporate, investment banking, wealth management and assets trading, Bank of America holds a widespread presence across the globe with about 4,700 retail centers. It proudly serves over 35 nations along with the 50 states of US. Its progression does not end here. In fact, it is further looking for ideal properties of lease to set up its more financial centers worldwide.
Having a variable cap rate between 4 to 5%, the company will take such properties on lease that fulfills all its terms and condition. According to its corporate lease agreement, it is looking for ground type properties with lease terms ranging between 15 years to 20 years. However, they can further extend this lease terms from 20 to 40 years if they find a profitable alternative. The company also assures an increment of 10 percent in the rent after the completion of every 5 years.
Bank of America Properties For Sale Across the United States :
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming