Valley National Bank - West Caldwell, NJ

1059 Bloomfield Avenue, West Caldwell, NJ, 07006, 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 West Caldwell, 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 ten, 5-year renewal options to extend, demonstrating their commitment to this site. In June 2024, this location had over $149MM of deposits for a trailing 12-month period, up from $105MM five years ago (30% increase).

The Property is situated on Bloomfield Avenue (22,000+ VPD), the commercial corridor of West Caldwell with vacancy rates below 4% across 180,000 square feet of commercial space. The 5-mile trade area is supported by a population of over 174,000 and 65,000+ households with an average income of $216,000. 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 a regional bank branch with high value intrinsic real estate situated in highly affluent Essex county. The asset offers secure, long-term cash flow backed by national financial services firm that contains over $62.9 billion in total assets.

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特性

建築物面積 (淨面積)

5,661 平方呎

租賃類型

絕對三重淨額

叫價

HK$21,552,000

投資回報率

6.25%

淨營運收入

HK$1,348,000

剩餘租期

8.7年

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 $215K and population of 174,000+
Over $149M of deposits for a trailing 12-month period, up from $105M five years ago (30% increase)