Chase Bank Ground Lease,
Greenville, SC Investment Summary
| Price | $2,000,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2021 |
| Building Size | 2,883 SF |
| Lot Size | 0.46 Acres (20,168 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN GROUND LEASE
» Long-term absolute NNN ground lease with scheduled rental increases, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal investment opportunity for an out-of-area investor
INVESTMENT GRADE TENANT WITH STRONG FINANCIALS
» Corporate lease to JP Morgan Chase (NYSE: “JPM”), rated “A+” by Standard & Poor’s
» JPMorgan Chase, through its Chase subsidiary, is one of the “Big Four” banks of the U.S. and has over $2.6 trillion in assets
» Chase recently announced plans to open 400 new retail branches and hire 3,000 employees in new U.S. markets over the next five years as part of a $20 billion growth strategy
HIGH-EXPOSURE LOCATION WITH AFFLUENT AND LARGE CUSTOMER BASE
» Hard-corner location at the signalized four-way intersection of Farrs Bridge Road and West Parker Road, with excellent visibility and access to a combined 22,800 vehicles per day
» 111,286 residents live within five miles of the property, establishing an extremely large customer base for the site
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including AutoZone, Food Lion, O’Reilly Auto Parts, Hardee’s, Subway, Wendy’s, and many more
» Outparcel to Food Lion-anchored Shopping Center, greatly promoting crossover shopping to the location
» Located within five miles of Furman University with nearly 3,000 undergraduate students
Property Description
SOLD
The property has a hard-corner location at the signalized four-way intersection of Farrs Bridge Road and West Parker Road, with excellent visibility and access to a combined 22,800 vehicles per day. The site is ideally located in an affluent area, with an average annual household income of $72,610 within a five-mile radius of the property. 111,286 residents live within five miles of the property, establishing an extremely large customer base for the site.
The property is centrally located near large employers, retailers, and community hubs. The site is surrounded by a strong mix of local and national retailers, including AutoZone, Food Lion, O’Reilly Auto Parts, Hardee’s, Subway, Wendy’s, and many more. Additionally, the property is located outparcel to a Food Lion-anchored shopping center greatly promoting crossover shopping to the location. The location experiences increased traffic from area schools and universities, including Furman University (nearly 3,000 students), Berea High school, (1,927 students), and Berea Elementary School (459 students), all of which is located within 5 miles of the property.
