TD Bank
Baskersfield, CA
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking.
The company offers telephone, Internet, and mobile banking services to personal and small business customers through a network of branches and automated banking machines; financing, investment, cash management, international trade, and day-to-day banking services to medium and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products. It also provides capital markets, investment banking, and corporate banking products and services, including underwriting and distribution of new debt and equity issues; providing advice on strategic acquisitions and divestitures; and trading, funding, and investment services to companies, governments, and institutions.
The company offers its products and services under the TD Canada Trust and TD Bank, America’s Most Convenient Bank brand names. It offers personal and small business banking products and services to approximately 15 million customers through a network of 1,156 branches and 3,169 automated banking machines; and retail banking products and services to approximately 9 million customers through a network of 1,278 stores. The company was founded in 1855 and is headquartered in Toronto, Canada.
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S&P Outlook: Stable
Moody Outlook: Stable
Typical Lease Characteristics
Lease Term: 15 – 20 Years Years
Lease Type: Absolute NNN Lease
Lease Increases: 10% Every 5 years
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate
Tenant Overview
Headquartered in Toronto, Canada, with more than 85,000 employees in offices around the world, The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD). TD offers a full range of financial products and services more than 25 million customers worldwide through three key business lines:
Canadian Retail including TD Canada Trust, Business Banking, TD Auto Finance (Canada), TD Wealth (Canada), TD Direct Investing and TD Insurance U.S. Retail including TD Bank, America’s Most Convenient Bank, TD Auto Finance (U.S.), TD Wealth (U.S.) and TD’s investment in TD Ameritrade Wholesale Banking including TD Securities.
The Toronto-Dominion Bank is a chartered bank subject to the provisions of the Bank Act (Canada). It was formed on February 1, 1955 through the amalgamation of The Bank of Toronto, chartered in 1855, and The Dominion Bank, chartered in 1869.
Positives:
- Public Company, Credit Rated
- NNN lease eliminates landlord responsibilities
- Typically Long term leases with increases
Negatives:
- Long term effects and pressures of online banking remain to be seen
- Typically low cap rate
Market Snapshots:
On Market Ranges:
# of Properties in set: 4
Price: $5,259,980 - $6,888,070Average: $6,261,881
PPSF: $1420 - $1730Average: $1542
Year Built: 2006 - 2011Average: 2008
CAP Rate Range: 4.72% - 5.83%Average: 5.03%
Size range: 3,964 sq ft - 4,100 sq ft Average: 4,050 sq ft
Last 12 Month Range:
# of Properties in set: 6
Price: $3,959,790 - $5,438,750Average: $4,770,833
PPSF: $1012 - $1277Average: $1204
Year Built: 1951 - 2012Average: 1987
CAP Rate Range: 4.84% - 5.85%Average: 5.31%
Size range: 2,766 sq ft - 4,500 sq ft Average: 3,815 sq ft
TD Bank Similar Tenants
TD Bank Company Profile
Headquarters Information
Cherry Hill, New Jersey
Founded in 1852
Company type: Public
Stock Ticker: TD
Industry: Banking, Financial services
# of Employees: 26,000
TD Bank Stock Keys
| Title | 2017 | 2016 |
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