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Bank

Chase Bank | Trophy Boston Offering | 12.5% Increases Every Five Years

1111 Lexington St, Waltham, MA 02452

Listing Price: Request For Offer

Tenant Name
Chase Bank
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
4,000
Lease Type
Triple Net (NNN)

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing for a Chase Bank located at 1111 Lexington Street in Waltham, MA. The subject property features brand new construction that will consist of roughly 3,400 square feet of building space on a 0.92 acre parcel, as well as a full-service drive through ATM at the opposite end of the parcel (detailed on page 12). This investment grade asset will feature a brand new 15-year absolute triple-net (NNN) ground lease. The rent will commence on December 28th, 2021 and the lease term will expire on December 31, 2036. The annual rent is (Need to Sign NDA), which will increase by 12.5% every 5 years, a well above market increase structure in the net lease space. The lease is subject to six (6), five-year tenant renewal options that also contain the 12.5% increases every five years. Chase hand picked this site to develop a brand-new branch due to the strong location in Waltham and the very affluent local population. The average household income in the area is outstanding with households earning over $154,000 in the surrounding area. This leads to the existing bank branches boasting tremendously high deposits such as the Bank Of America ($370,494,000) and Citizens Bank ($249,426,000), both are located within an eighth of a mile of the new Chase Bank.

Investment Highlights

  • Brand New 2021 Construction | 15 Year Absolute Triple Net (NNN) Ground Lease
  • Excellent Rental Increases of 12.5% Every 5 Years| Full JP Morgan Chase Guaranty
  • Adjacent to New Life Science Development | Revolution Labs | 173,700 SF of Lab and Office Space Currently Under Construction Next Door (See Page 9 for Information)
  • Located on a Hard Corner Opposite Star Market Anchored Shopping Center in an Extremely High Barrier to Entry Market

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Regional Manager

    (617) 896-7250

    License(s) MA: 1000485

    Massachusetts

Bank

Chase Bank | Trophy Boston Offering | 12.5% Increases Every Five Years

Listing Price: Request For Offer

Tenant Name
Chase Bank
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
4,000
Lease Type
Triple Net (NNN)

Investment Highlights

  • Brand New 2021 Construction | 15 Year Absolute Triple Net (NNN) Ground Lease
  • Excellent Rental Increases of 12.5% Every 5 Years| Full JP Morgan Chase Guaranty
  • Adjacent to New Life Science Development | Revolution Labs | 173,700 SF of Lab and Office Space Currently Under Construction Next Door (See Page 9 for Information)
  • Located on a Hard Corner Opposite Star Market Anchored Shopping Center in an Extremely High Barrier to Entry Market

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing for a Chase Bank located at 1111 Lexington Street in Waltham, MA. The subject property features brand new construction that will consist of roughly 3,400 square feet of building space on a 0.92 acre parcel, as well as a full-service drive through ATM at the opposite end of the parcel (detailed on page 12). This investment grade asset will feature a brand new 15-year absolute triple-net (NNN) ground lease. The rent will commence on December 28th, 2021 and the lease term will expire on December 31, 2036. The annual rent is (Need to Sign NDA), which will increase by 12.5% every 5 years, a well above market increase structure in the net lease space. The lease is subject to six (6), five-year tenant renewal options that also contain the 12.5% increases every five years. Chase hand picked this site to develop a brand-new branch due to the strong location in Waltham and the very affluent local population. The average household income in the area is outstanding with households earning over $154,000 in the surrounding area. This leads to the existing bank branches boasting tremendously high deposits such as the Bank Of America ($370,494,000) and Citizens Bank ($249,426,000), both are located within an eighth of a mile of the new Chase Bank.

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Regional Manager

    (617) 896-7250

    License(s): MA: 1000485

    Massachusetts

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