Chase Bank | Absolute NNN | $196M+ in Deposits
Recent Lease Extension | High Deposits
Marketing description
The Landes Group is pleased to offer the opportunity to acquire a Chase Bank property in Sun City, California, a community in Riverside County located 75 miles south of Los Angeles and 75 miles north of San Diego. The property is positioned directly off I-215 at the intersection of McCall Boulevard and Sun City Boulevard. Chase Bank is currently in its fourth 5-year option term with over four years remaining. After this term, three additional 5-year option periods remain. Under the absolute NNN lease, Chase Bank is responsible for all maintenance and repairs, leaving the landlord with no obligations.
Investment highlights
• Absolute NNN Lease – No landlord obligations
• Long-Term Commitment – Chase exercised its 4th, 5-year renewal option
• Rent Increase – 38% increase in latest option term
• Deposit Growth – 30% increase over the past 5 years
• Corporate Guarantee – Backed by JPMorgan Chase (S&P: AA–)
• Industry Leader – Largest financial institution in the U.S.
• High Deposits – $196.9M+ in annual deposits
• Prime Location – Direct access to Interstate 215
• Established Trade Area – Surrounded by national retailers: Vons, Stater Bros, Rite Aid, Walgreens, McDonald’s, Wendy’s, Valero, Chevron, Wells Fargo, Bank of America, Jack in the Box, and more
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