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JPMORGAN CHASE BANK GROUND LEASE
Absolute NNN Corporate Lease w/ZERO Landlord Responsibilities
16yrs Left on Lease | 10% Bumps Every 5-years

Available

CONTACT:

Steven Schroeder

Net Leased Specialist
954-593-6466
Click for Email


INVESTMENT HIGHLIGHTS:

• Absolute NNN Corporate Ground Lease - ZERO Landlord Responsibilities
• Corporate Lease from JP Morgan Chase Bank, NA (S&P: A+)
• Attractive 10% Rent Increases Every 5-Years
• Located in a Major Retail Corridor with Direct Access to I-75
• Outparcel to a Publix Supermarket Anchored Center
Strong Traffic Counts Along College Rd of 54,300 VPD
• Adjacent to a 487,783 SF Power Center, Anchored by Macy’s, JC Penney, Belk and Sears
• Located ½ mile from the College of Central Florida which has an enrollment of approx 8,162 students

Price:
$3,728,421
NOI:
$177,100*
CAP Rate: 4.75%
Years Remaining on Lease: 16± Years
Rent Increases: 10% Every 5-years
Options: 4 x 5 Year
Building Size: 4,279± SF**
Rent Commencement:
March 10, 2012
Lease Expiration:
March 9, 2032
Net Lease Investment:
Absolute NNN Ground Lease

*NOI based off of year 6 NOI. Seller to credit buyer the difference at closing
**Building has not been constructed yet, approvals are for a 4,279± SF Bank branch with three drive-thu lanes

Property Description:
We are pleased to announce for sale a long-term absolute NNN ground lease located in Ocala, FL leased to JP Morgan Chase Bank for 20 years. The 20 year lease commenced on March 10, 2012 and there are just under 16 years remaining on the primary term.

The lease offers 10% rent increases every five years with 4 x 5 year options to renew. The Lease is absolute NNN with Zero Landlord Obligations (Tenant responsible for all taxes, insurance, maintenance - including roof and structure).

Chase has not commenced construction of their 4,279 SF building at this time, however the ground lease is in full effect and Chase is bound to all lease obligations for the entire 20 years (and option periods). The Seller is not aware of the tenant’s future plans for the parcel.

About the Location:
This .90± acre parcel is situated at the signalized intersection and out parcel to the 87K SF Publix anchored Shoppes at Paddock Parkan, and adjacent to a Bank of America and Regions Bank. It's located directly on the primary east/west arterial in Ocala with high traffic counts of over 54,000 VPD and is the retail “hub” in the Ocala market with 490,000 SF Paddock Mall (anchored by Macy’s, JC Penney, Belk and Sears) directly adjacent to the site - and most national retailers in the immediate vicinity. It’s less than 1-mile from the College of Central Florida.

Ocala is located 60 miles northwest of Orlando and has experienced major growth due to its proximity to I-75 and the horse industry. The Ocala metropolitan area includes more than 338,000 people and approximately 130,000 households. The city is located in Marion County, which is one of Florida's fastest growing counties. Ocala is known as the horse capital of the world, one of only five cities (four in the USA and one in France) permitted under Chamber of Commerce guidelines to use this title based on annual revenue produced by the horse industry. Ocala and "Postime Farms" host one of the largest horse shows in the country, H.I.T.S or "Horses in the Sun,“ which lasts almost two months and brings in millions of dollars to the local economy each year.

About the Tenant:
100% Leased and Guaranteed by JPMorgan Chase, NA (S&P: A+/Stable)

2015 Demographics
1 Mile
3 Mile
5 MilE
Population
4,294
26,890
63,947
Avg Household Income
$56,763
$54,624
$59,687
 
AERIALS/PHOTOS
 

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

The properties shown on this website may or may not be exclusively listed by SOLID INVESTMENTS at Berger Reatly Group. All information shown on www.SolidInvestmentsFL.com is believed to be accurate, but is not warranted.

Solid Investments
of Berger Realty Group