Palm Bay, FL - Chase Bank

Description:

• Brand new 15-year ground lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is signed by Chase Bank, an established bank tenant (S&P: AA-)
• The ground lease features 10% rental increases every 5 years and at the beginning of each option period

• The asset is an outparcel to Heritage Square, a brand new Publix-anchored shopping center that will feature several retail outparcels such as Chase Bank and more
• The major retail and residential developments in the immediate corridor will provide a future investor with long-term viability in the underlying real estate
• The asset has excellent visibility and multiple points of ingress/egress
• Chase Bank benefits from its location near the signalized hard corner of St. Johns Heritage Parkway and Malabar Road, which sees a combined traffic count of approximately 34,700 vehicles per day

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Listing ID: a28TP000003bRkHYAU