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Bank

TD Bank

106 N Main St, Lacey Township, NJ 08731

Listing Price: $6,400,000

Cap Rate
4.30%
Tenant Name
TD Bank
Years Remaining On Lease
10.7
Guarantor
Corporate Guarantee
Rentable SF
6,377
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.12

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a TD Bank located at 106 North Main Street (Route 9) in Forked River (Lacey Township), New Jersey. The property is situated on a signalized intersection on the northeast corner of Route 9 and Lacey Road. The site experiences tremendous exposure of over 57,000 vehicles each day. The property consists of 6,377 square feet of building space and is situated on roughly 2.11 acres of land. This location has been a retail bank branch since it was developed in 1974. TD Bank boasts outstanding deposits at this location with over $246,000,000 in deposits in 2020. Deposits have grown by 50% in the past five years alone which is likely the reason TD Bank extended the term of the lease 3 years early by a period of 10 years. This far outpaces the local market as this site had 166% higher deposits than the second highest bank in the area. TD Bank has consolidated smaller locations in the area as they prefer to operate out of this well-located site that houses a loan origination office and lending department. TD Bank values this location so highly that in 2007 they chose to purchase a small parcel in order to further increase exposure at the site. This is a highly valued location to TD Bank which is evidenced by their actions in the local market, recent 10-year lease extension and meticulous upkeep of the property. Also included in this offering is a 0.43 acre pad site located next to the TD Bank along Lacey Road. This piece of land is maintained by TD Bank, however as per the lease, the landowner has the right at anytime to build a building of 4,650 square feet. Page 10 and 11 of this offering memorandum include a concept plan for a proposed retail building of 4,650 square feet. The new building will have two means of ingress/egress that will be shared entry ways with the TD Bank. For more information on this development parcel, please contact the listing broker.

Investment Highlights

  • TD Bank Just Signed a 10-Year Lease Extension
  • Over $246,000,000 in Deposits in 2020
  • Over the Past Five Years TD Bank has had a 50% Increase in Bank Deposits

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s) NJ: 1434917

    New Jersey

Listing Price: $6,400,000

Cap Rate
4.30%
Tenant Name
TD Bank
Years Remaining On Lease
10.7
Guarantor
Corporate Guarantee
Rentable SF
6,377
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.12

Investment Highlights

  • TD Bank Just Signed a 10-Year Lease Extension
  • Over $246,000,000 in Deposits in 2020
  • Over the Past Five Years TD Bank has had a 50% Increase in Bank Deposits

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a TD Bank located at 106 North Main Street (Route 9) in Forked River (Lacey Township), New Jersey. The property is situated on a signalized intersection on the northeast corner of Route 9 and Lacey Road. The site experiences tremendous exposure of over 57,000 vehicles each day. The property consists of 6,377 square feet of building space and is situated on roughly 2.11 acres of land. This location has been a retail bank branch since it was developed in 1974. TD Bank boasts outstanding deposits at this location with over $246,000,000 in deposits in 2020. Deposits have grown by 50% in the past five years alone which is likely the reason TD Bank extended the term of the lease 3 years early by a period of 10 years. This far outpaces the local market as this site had 166% higher deposits than the second highest bank in the area. TD Bank has consolidated smaller locations in the area as they prefer to operate out of this well-located site that houses a loan origination office and lending department. TD Bank values this location so highly that in 2007 they chose to purchase a small parcel in order to further increase exposure at the site. This is a highly valued location to TD Bank which is evidenced by their actions in the local market, recent 10-year lease extension and meticulous upkeep of the property. Also included in this offering is a 0.43 acre pad site located next to the TD Bank along Lacey Road. This piece of land is maintained by TD Bank, however as per the lease, the landowner has the right at anytime to build a building of 4,650 square feet. Page 10 and 11 of this offering memorandum include a concept plan for a proposed retail building of 4,650 square feet. The new building will have two means of ingress/egress that will be shared entry ways with the TD Bank. For more information on this development parcel, please contact the listing broker.

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s): NJ: 1434917

    New Jersey

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