Temecula, CA - Chase Bank

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, investment grade (S&P: A+), drive-thru equipped, Chase Bank investment property located in Temecula, California. The tenant, JPMorgan Chase Bank, NA, has occupied the site for 30 years and recently extended their lease an additional 5 years with 2 (5-year) option periods to extend, demonstrating their commitment to the site. The lease is signed by the corporate entity (S&P: A+), and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 trillion and operations worldwide.

Chase Bank is strategically positioned as an outparcel at a signalized entry to Temecula Town Center. The asset is situated along Rancho California Road, a major retail and commuter thoroughfare, with an average of 56,200 vehicles passing by daily. The property benefits from its proximity to the on/off ramps to Interstate 15 (164,000 VPD). The building features a drive-thru ATM, and, on average, stores with drive-thrus experience higher sales than those without. The asset is an outparcel of Temecula Town Center, a popular shopping destination attracting 4.8 million visitors annually (according to Placer.ai). This center ranks in the top 5% nationwide for visits compared to other shopping centers, demonstrating its strong customer base and robust market presence. The center’s tenants include Target, Vons, CVS, HomeGoods, and more. Chase Bank, located within a dense retail corridor, is near various national/credit tenants, including Costco, Albertsons, Lowe’s, Macy’s, Dick’s Sporting Goods, and Big Lots. Strong tenant synergy enhances consumer draw to the immediate trade area and promotes crossover store exposure for the site. Moreover, Chase Bank is near multiple apartment complexes including Temecula Gardens (400 units), Sage Canyon (344 units), Stonewood Apartment Homes (320 units), Temecula Ridge (220 units), Rendezvous (160 units), and Summer Breeze (125 units), providing a strong consumer base to draw from. The 5-mile trade area is supported by over 166,000 residents and 88,000 employees, providing a direct consumer base from which to draw. Residents within 5 miles of the property boast an affluent average household income of $137,000.