Rockville, MD - Chase Bank

Description:

• The lease is corporate guaranteed by JPMorgan Chase Bank, NA., an investment grade (S&P: A+), nationally recognized, and an established bank with over 5,100 locations and 16,000 ATMs Nationwide
• Brand new 15-year lease with 3 (5-year) options to extend
• The ground lease features 10% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation
• Tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises
• No landlord responsibilities
• Investor benefits from fee-simple ownership of the land
• Brand new construction with state-of-the-art bank features
• This asset is equipped with a two-lane drive-thru ATM, allowing for contactless transactions as well as providing ease and convenience for guests

• The subject property is strategically positioned on the signalized, hard corner intersection of Hungerford Drive and Dawson Avenue, a retail and commuter thoroughfare averaging roughly 54,000 vehicles passing by daily
• Chase Bank is adjacent to Rockville Town Square, which offers a shopping, entertainment and leisure destination for residents, families and professionals
• Located within a dense residential consumer base with more than 121,000 households within a 5-mile radius
• Less than 1 mile south of Montgomery College which has more than 55,000 total students enrolled
• More than 324,000 residents and 190,000 employees support the trade area
• $186,365 average household income within 3-mile radius