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Bank

Chase Bank (Ground Lease)

161 W Spring Creek Pkwy, Plano, TX 75023

Listing Price: $4,736,000

Cap Rate
4.75%
Tenant Name
Chase Bank
Years Remaining On Lease
5.9
Gross SF
4,055
Guarantor
Corporate Guarantee
Rentable SF
4,055
Price/Gross SF
$1,167.94
Lease Type
Ground Lease
Rent Per Square Feet
$55.47

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed Chase Bank ground lease in Plano, Texas. The property consists of a 4,055-square foot, freestanding building that sits on approximately 0.77 acres of land. There are approximately 7.7 years remaining on the current lease term, with 10 percent rental escalations scheduled every five years. Chase Bank have operated at this location for more than 13 years. The property has excellent visibility on West Spring Creek Parkway with easy access to Interstate 75, where combined traffic counts exceed 227,699 vehicles per day. The area is extremely dense with more than 322,226 residents within a five-mile radius.

Investment Highlights

  • Approximately 7.75 Years Remaining on an Absolute Net Lease with a Corporate Guarantee from JPMorgan Chase
  • Tremendous Branch Deposits – Over $200 Million in Consumer Deposits (As of 6/2022)
  • High-Growth Market in North Dallas- 47% Population Growth Since 2000 and 9.7% Projected Growth in the Next Five Years Within a Five-Mile Radius
  • West Spring Creek Parkway Location with Easy Access to I-75 (Combined Traffic Counts Exceed 227,699 VPD)
  • Located Across from Entrance to a Walmart Supercenter
  • Highly Affluent Trade Area - Average Household Income Exceeds $134,741 Within a Five-Mile Radius

Exclusively Listed By

Bank

Chase Bank (Ground Lease)

Listing Price: $4,736,000

Cap Rate
4.75%
Tenant Name
Chase Bank
Years Remaining On Lease
5.9
Gross SF
4,055
Guarantor
Corporate Guarantee
Rentable SF
4,055
Price/Gross SF
$1,167.94
Lease Type
Ground Lease
Rent Per Square Feet
$55.47

Investment Highlights

  • Approximately 7.75 Years Remaining on an Absolute Net Lease with a Corporate Guarantee from JPMorgan Chase
  • Tremendous Branch Deposits – Over $200 Million in Consumer Deposits (As of 6/2022)
  • High-Growth Market in North Dallas- 47% Population Growth Since 2000 and 9.7% Projected Growth in the Next Five Years Within a Five-Mile Radius
  • West Spring Creek Parkway Location with Easy Access to I-75 (Combined Traffic Counts Exceed 227,699 VPD)
  • Located Across from Entrance to a Walmart Supercenter
  • Highly Affluent Trade Area - Average Household Income Exceeds $134,741 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed Chase Bank ground lease in Plano, Texas. The property consists of a 4,055-square foot, freestanding building that sits on approximately 0.77 acres of land. There are approximately 7.7 years remaining on the current lease term, with 10 percent rental escalations scheduled every five years. Chase Bank have operated at this location for more than 13 years. The property has excellent visibility on West Spring Creek Parkway with easy access to Interstate 75, where combined traffic counts exceed 227,699 vehicles per day. The area is extremely dense with more than 322,226 residents within a five-mile radius.

Exclusively Listed By

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