Long Beach, CA - Chase

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, drive-thru equipped, Chase Bank investment property located in Long Beach, CA (Los Angeles MSA). The tenant, JPMorgan Chase Bank, N.A. (S&P: A+), has over 5 years remaining on their current lease with 4 (5-year) and 1 (4-year, 11-month) option to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for an investor seeking passive income.

The Chase Bank is strategically situated at the signalized, hard-corner intersection of Atlantic Avenue and East Artesia Boulevard (combined 45,800 VPD). The site also has convenient on/off ramp access to both State Highway 91 (271,000 VPD) and Interstate 710 (224,000 VPD). Chase Bank is equipped with a drive-thru lane, providing ease and convenience for its customers, and has multiple access points from Atlantic Ave, Artesia Blvd, and Lime Ave. Nearby national/credit tenants include Target, The Home Depot, Food 4 Less, and more, increasing consumer draw to the trade area. The asset is a part of Uptown Commons, a recent development that includes a Starbuck’s, Wendy’s, and a new food shops concept with La Super Birria, Shootz, Main Chick, and Shomi Noods, promoting crossover shopping within the center. The dense, infill, 5-mile trade area is supported by more than 684,000 residents with an affluent average household income of $105,165.

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