Valley National Bank - Hillsdale, NJ

24 Broadway, Hillsdale, NJ, 07642, US

描述

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to present for sale the single-tenant Valley National Bank (the "Tenant") located in the tri-state area in Hillsdale, NJ (the "Property" or "Asset"). The Tenant executed a 15-year absolute NNN lease in 2019 with 2.00% annual rental escalations. The lease has 8.7 years remaining with 12, 5-year renewal options to extend, demonstrating their commitment to this site. In June 2024, this location had over $233MM of deposits for a trailing 12-month period, up from $105MM five years ago (54% increase).

The Property is situated along the Broadway (13,000+ VPD), the commercial district of Hillsdale where 127,000 square feet of premium retail space lies. The 5-mile trade area is supported by a population of over 232,000 and 81,000+ households with an average income of $220,000. Valley National Bank is a premier financial institution with a rich history dating back to 1927 and over 260 branch locations across six states.

This offering presents the opportunity to acquire an infill regional bank branch with high value intrinsic real estate situated highly affluent Bergen county. The asset offers secure, long-term cash flow backed by national financial services firm that contains over $62.9 billion in total assets.

...

特性

建築物面積 (淨面積)

4,327 平方呎

剩餘租期

8.7年

租賃類型

絕對三重淨額

投資回報率

6.25%

淨營運收入

HK$1,099,000

叫價

HK$17,457,000

媒體

投資亮點

Operating on an absolute NNN lease with ±8.7 years of lease term remaining and 2% annual rent escalations
Valley National Bank is the largest commercial bank headquartered in NJ with an investment grade rating (S&P: BBB)
Strong demand characteristics driven by 5-mile AHHI of $220K and population of 232,000+
Located in Bergen County, one of the wealthiest counties in the US
Over $233M of deposits for a trailing 12-month period, up from $105M five years ago (54% increase)