TD Bank

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 Rating: AA-

S&P Outlook: Stable

Moody Rating: Aa1

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.


  • Public Company, Credit Rated
  • NNN lease eliminates landlord responsibilities
  • Typically Long term leases with increases


  • 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 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

S&P Rating: AA-

S&P Outlook: Stable

S&P Rating: Aa1

Moody Outlook: Stable

TD Bank Stock Keys

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