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Views: 195 DOM: 391 Updated: 08.06.24 Posted: 10.17.23 Status: Active

Summary

Price $4,286,000
Built/Renov 2023
Tenant Chase Bank (GL)
Cap Rate 3.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,470
Lease Start 12-01-2023
#Units 5,100
Price/SF $1,235.16
Expiration 11-30-2043
Tenant Type Bank/Financial
NOI $150,000
R. Term 19.0
Ownership Ground Lease
Rent/SF $43.23
Increases 10.0%/5/yrs
Pop 5Mi 208,832
Lot/AC 1.57
Options 3/5yrs/10%
AHHI 5Mi $138,572

Lease Highlights

  • Brand-new construction | Slated to open December 2023
  • The tenant recently signed a new 20-year ground lease with 3 (5-year) option periods to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed | Investment grade tenant (S&P: A+ | NYSE: JPM)

Location Description

Chase Bank is situated along Clinton Keith Road, benefiting from clear visibility and access to 13,000 vehicles passing by daily. The property's advantageous location includes direct on/off ramp access to Interstate 215 (110,000 VPD), a major thoroughfare connecting the Los Angeles MSA, making it a centralized spot with convenient commutes for both employees and customers. Furthermore, the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chase Bank
  • Guarantor:Corp T and Rated
  • Company:JPMorgan Chase & Co.
  • # Units:5,100
  • Tenant S&P: A-
  • Moody’s: A1
  • Stock: NYSE: JPM

About Tenant

JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank. Founded in 1877, The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000....


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,516 80,065 215,739
2023 Total Population : 9,242 79,307 209,069
2023 Employed Civilian Pop : 4,852 35,143 95,962
2023 Total Businesses : 232 1,968 6,359
2023 Average Household Income : $ 158,916 $ 132,374 $ 138,762
2023 Total Consumer Spending : $ 380 M $ 2844 M $ 7577 M
2023 Median Age : 33 36 34
2023 Total Households : 2,842 25,276 64,259
2023 Pop Age 25+: Bachelor's Degree : 1,594 11,461 31,770
2023 Average Home Value : $ 645,373 $ 578,234 $ 595,517
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Clinton Keith Road Creighton Ave 2019 28,700 0.03 mi
Clinton Keith Rd Whitewood Rd 2008 13,000 0.06 mi
Antelope Rd Clinton Keith Rd 2008 2,300 0.10 mi
Whitewood Rd Clinton Keith Rd 2008 3,848 0.11 mi
2005 2,300 0.17 mi
Clinton Keith Road 2021 107,500 0.21 mi
215 2018 106,600 0.29 mi
Clinton Keith Rd McElwain Rd 2019 37,500 0.39 mi
McElwain Road Delaney Cir 2019 15,000 0.44 mi
Meadowlark Ln Lindstrand Ave 2008 2,196 0.46 mi

Listing Broker

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