Tenant: Chase Bank ATM Premises: 19166 SF Renewal Options: None
Lease Expiration: 12/31/2021 Lease Type: NNN Rental Increases: 6.5% Every 3 Years
A Ground Lease of 19,166 SF Which Serves as a Drivethru ATM, Additional Parking and Provides the Corner Signage to Adjacent Corporately Owned and Operated Chase Bank Branch (Bank is Not Included in the Sale)
Single Tenant Absolute NNN Ground Lease
Tenant Just Excised 5 Year Option to Extend the Lease
Bumps – 6.5% Every 3 Years Throughout the Base Term Lease
Guaranty by Chase Bank (NYSE: JPM)
Strong Location with Deposits $53.7M in 2015, and Deposits Have Grown Every Year
JPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of the multinational banking corporation JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. Chase Manhattan Bank was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in Chicago, since its merger with Bank One Corporation in 2004. In 2008, the bank acquired the deposits and most assets of Washington Mutual.
Chase offers more than 5,100 branches and 16,100 ATMs nationwide. JPMorgan Chase has 260,965 employees (as of 2012) and operates in more than 85 countries. JPMorgan Chase currently has assets of approximately US$2.515 trillion.