SURMOUNT Arranges $12.7M Net Lease Bank Sale in Studio City

Dual representation of buyer and seller completes six-year portfolio disposition for trust while delivering attractive acquisition for Ironside Realty

SURMOUNT, a Los Angeles-based commercial real estate advisory and investment platform, has announced the sale of a 14,245-square-foot Bank of America branch located in Studio City. The property traded for $12,722,000, or approximately $893 per square foot. SURMOUNT’s Anthony Bird represented both the seller, Broadway Tenth/Studio City, LLC, and the buyer, Ironside Realty, in the transaction. Rich Nardi, Anthony D’Ambrosia and Joe Durkin also contributed to the transaction.

The transaction highlights the culmination of a six-year advisory relationship between SURMOUNT and the seller, a trust that originally engaged the firm to divest a portfolio of six net lease properties. Having successfully facilitated every prior sale, SURMOUNT delivered the final disposition of the trust’s last remaining net lease asset, bringing the engagement full circle and allowing the seller to fully close out its net lease portfolio.

The transaction presented notable complexity, including an additional parking lease for which the landlord retains responsibility. SURMOUNT’s dual representation proved instrumental in navigating this structure. By representing both sides, the firm was able to bridge a pricing gap that allowed the buyer’s offer to gain acceptance.

“This closing was the result of a long-standing relationship built on trust and consistent execution,” said Anthony Bird, vice president, investments at SURMOUNT. “Over the course of six years and six transactions, we worked closely with the seller to methodically close out their net lease portfolio. Representing both the buyer and seller in this final transaction created a unique opportunity to structure an outcome that worked for all parties and allowed us to meet the complexity of this asset head-on. Ironside Realty recognized the long-term value of a well-located, income-producing bank branch in one of Los Angeles’ most sought-after submarkets, and we were proud to help them secure it.”

The 12223 Ventura Blvd transaction underscores continued investor demand for net lease assets, where tenants such as banks, pharmacies and national retailers are responsible for taxes, insurance and maintenance in addition to rent. The structure’s predictable cash flow and credit-backed income profile continue to attract institutional and private capital.

According to CBRE, U.S. net lease investment totaled $52.4 billion on a trailing 12-month basis through the first quarter of 2026, an 8% increase from the prior year, reflecting sustained investor demand for stable income-producing assets despite an evolving interest rate environment.

Information for this article was sourced from SURMOUNT.