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Bank

Chase Bank | 13 Years Remain | Richmond, VA MSA | Replaceable Ground Lease Rent

1361 Huguenot Rd, Midlothian, VA 23113

Listing Price: $3,068,182

Cap Rate
4.40%
Tenant Name
Chase Bank
Years Remaining On Lease
13.5
Gross SF
3,270
Guarantor
Corporate Guarantee
Rentable SF
3,270
Price/Gross SF
$938.28
Lease Type
NNN Ground Lease
Rent Per Square Feet
$41.28

Investment Overview

The Tenant, JP Morgan Chase Bank, National Association, has 13 years remaining on a NNN ground lease that commenced in November 2021. The lease features rental increases of 10 percent every five years during the base term and four, five-year option periods, providing a hedge against inflation. The tenant’s rental rate is the lowest of the four recent pad leases executed at this intersection. It is easily replaceable given the high quality of the real estate. This signalized corner parcel is highly visible and accessible to traffic along both Huguenot Road and Koger Center Boulevard.

Investment Highlights

  • 10 Percent Increases Every 5 Years
  • Signalized Corner Parcel to 46,000 VPD
  • Out-Parcel to Richmond's Largest Enclosed Shopping Center with 5.6 Million Annual Customer Visits

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President, Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Bank

Chase Bank | 13 Years Remain | Richmond, VA MSA | Replaceable Ground Lease Rent

Listing Price: $3,068,182

Cap Rate
4.40%
Tenant Name
Chase Bank
Years Remaining On Lease
13.5
Gross SF
3,270
Guarantor
Corporate Guarantee
Rentable SF
3,270
Price/Gross SF
$938.28
Lease Type
NNN Ground Lease
Rent Per Square Feet
$41.28

Investment Highlights

  • 10 Percent Increases Every 5 Years
  • Signalized Corner Parcel to 46,000 VPD
  • Out-Parcel to Richmond's Largest Enclosed Shopping Center with 5.6 Million Annual Customer Visits

Investment Overview

The Tenant, JP Morgan Chase Bank, National Association, has 13 years remaining on a NNN ground lease that commenced in November 2021. The lease features rental increases of 10 percent every five years during the base term and four, five-year option periods, providing a hedge against inflation. The tenant’s rental rate is the lowest of the four recent pad leases executed at this intersection. It is easily replaceable given the high quality of the real estate. This signalized corner parcel is highly visible and accessible to traffic along both Huguenot Road and Koger Center Boulevard.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President, Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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