Chase Bank (GL)

664 Mantua Pike, Woodbury, NJ 08096

$4,325,000

Cap Rate 4.00%

Updated: 03.20.24 Posted: 01.18.23 Status: Sold

Summary

Price $4,325,000	Built/Renov 2022	Tenant Chase Bank (GL)
Cap Rate 4.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,730	Lease Start 04-01-2022	#Units 4,784
Price/SF $1,584.25	Expiration 03-31-2042	Tenant Type Bank/Financial
NOI $173,000	R. Term 16.10	Ownership Ground Lease
Rent/SF $63.37	Increases 10.0%/3/yrs	Pop 5Mi 131,849
Lot/AC 0.98	Options 3/5yrs/10%	AHHI 5Mi $104,761

Lease Highlights

Chase Bank is original tenant: build-to-suit facility (2022)
The tenant has 18 years remaining in its initial term with 3 (5-year) options to extend
The lease features 10% rent increases every 5 years
Zero landlord responsibilities- Absolute NNN lease
Corporate guarantee by JP Morgan Chase Bank (NYSE: JPM)
JP Morgan Chase Bank is an investment grade tenant (S&P: A+)

Location Description

This Chase is located on Mantua Pike (Route 45), which is the main retail thoroughfare in Woodbury, NJ, and sees over 20,000 vehicles per day. The property benefits from strong demographics of 131,849 living within a 5-mile radius, and an AHHI of $104,761. This branch is positioned in an excellent retail trade area that includes ACME Markets, ALDI, McDonald’s, Starbucks, Dunkin, Wawa and more....

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Key Features

New construction
Major thoroughfare
Dense retail corridor
Top 100 MSA
Affluent AHHI $100K 5 Mi
Brand new lease
Long 15+ yr lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Chase Bank Wikipedia Chase Bank Wikipedia Woodbury New Jersey Zip Code 08096 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chase Bank
Guarantor:Corp T and Rated
Company:JP Morgan Chase Bank N.A.
# Units:4,784
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 :	10,150	67,013	136,302
2023 Total Population :	10,246	67,058	135,669
2023 Employed Civilian Pop :	4,761	35,037	69,627
2023 Total Businesses :	543	2,025	4,307
2023 Average Household Income :	$ 106,013	$ 112,985	$ 113,203
2023 Total Consumer Spending :	$ 363 M	$ 2634 M	$ 5255 M
2023 Median Age :	41	42	42
2023 Total Households :	4,021	27,306	54,324
2023 Pop Age 25+: Bachelor's Degree :	1,588	10,385	19,866
2023 Average Home Value :	$ 282,782	$ 300,112	$ 298,647

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South Evergreen Avenue		2018	9,826	0.06 mi
Mantua Pike	S Evergreen Ave	2020	16,038	0.11 mi
South Evergreen Avenue	Mantua Pike	2020	9,644	0.12 mi
Mantua Pike	Packard Ave	2011	17,889	0.30 mi
Bellevue Ave	Summit Ave	2004	1,620	0.34 mi
Twells Ave	Salem Ave	2004	2,990	0.35 mi
Mantua Pike	Twells Ave	2018	19,964	0.36 mi
Salem Avenue	Morris St	2017	8,962	0.38 mi
Salem Ave	Emerson St	2011	12,107	0.40 mi
South Barber Avenue	S Evergreen Ave	2018	7,734	0.41 mi

Listing Broker

Jonathan Wolfe

STREAM Capital Partners

Contact

10 Listings
1520 Views
5 Sold

Jordan Shtulman

STREAM Capital Partners

Contact

75 Listings
13380 Views
38 Sold

Jonathan Wolfe

Jonathan Wolfe is Co-Founder and Managing Principal of STREAM Capital Partners. In 2012, Jonathan Wolfe and his partner, Jordan Shtulman, formed STREAM Capital Partners with the intent to advise institutions, real estate developers, REITs, private equity firms, and business owners on all phases of net leased and sale leaseback properties. Since forming the company, Jordan and Jonathan have led a team of trusted advisors across the country completing over $12 Billion in net leased and sale lease

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Jordan Shtulman

Jordan Shtulman is Co-Founder and Managing Principal of STREAM Capital Partners. In 2012, Jordan Shtulman and his partner, Jonathan Wolfe, formed STREAM Capital Partners with the intent to advise institutions, real estate developers, REITs, private equity firms, and business owners on all phases of net leased and sale leaseback properties. Since forming the company, Jordan and Jonathan have led a team of trusted advisors across the country completing over $12 Billion in net leased and sale leas

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