Valley National Bank - West Caldwell, NJ

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.