MetLife Investment Management is selling a portfolio of 22 standalone banks in California for an asking price of $149.5M.
The insurance giant has owned the portfolio, encompassing a total of 252K SF, since 1990. The buildings, which are located throughout the Golden State, currently are leased to JP Morgan Chase.
The portfolio is being listed on LoopNet and marketed by CBRE, according to a report in the LA News Tribune. The asking price is equivalent to an average of $593 per square foot for the assets.
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