Valley National Bank - Harrison, NJ

433 Harrison Avenue, Harrison, NJ, 07029, US

묘사

JLL presents for sale the single-tenant Valley National Bank property at 433-439 Harrison Ave, Harrison, NJ. The property features a 15-year absolute NNN lease (2019) with 2.00% annual escalations, 8.8 years remaining, and five 5-year renewal options. This branch holds $295MM in deposits, up 153% from five years ago. Valley National Bank, established 1927, operates 260+ branches across six states with $62.9B in assets.

Located under 2 miles from Newark and 8 miles from NYC with excellent interstate access, the property serves a growing area with 331,000+ residents within 3 miles (32% growth since 2010). Hudson County has seen $6B+ in development since 2016. This investment offers secure income backed by an investment-grade institution in a strategically positioned, transit-oriented location.

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개요

건물 면적 순

697 제곱미터

건축년도

1940

요청 가격

₩5,048,155,000

Cap rate

6.25%

임대 형태

절대 삼중 순이익

NOI

₩315,490,000

남은 임대 기간

8.7 년

미디어

투자 하이라이트

Proximity to Newark and New York City with a dense, 2.9M+ consumer base
Strong population growth of 32% since 2010 within 1-mile radius
Strong average household income of $105K+ within 1-mile radius
Population of 852,000 within five-mile radius
Situated in a strong education center adjacent to several public and private schools
Valley National Bancorp (Nasdaq: VLY) with total assets of $62.5 billion and S&P rating: BBB (stable outlook)
Deposits at this location exceeded $295MM in 2024
Absolute NNN lease with 2% rent growth annually