Chase Bank - Troy, MI

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a freestanding single-tenant Chase Bank located at 260 John R Road in Troy, Michigan (“Property” or “Asset”).

This Asset features an investment grade corporate guaranty from JPMorgan Chase Bank (S&P: ‘A-’) and is operating on a 50-year absolute triple net lease with zero landlord responsibilities and one, five-year renewal option. Notably, the Tenant reported $233.5M in deposits in 2022, which represents an outstanding 51% deposit growth since 2017.

Located 20 miles northeast of downtown Detroit, the Property is positioned in a highly affluent city with access to over 300,000 residents in a five-mile radius. This Chase Bank branch sits as an outparcel to Oakland Plaza, a big box shopping center that drives approximately 1.5 million visits annually. Adjacent is Oakland Mall, a super-regional shopping center boasting 1.5 million square feet of retail space that drives 4.1 million visits annually. Oakland Mall is the #3 most visited shopping mall locally with anchors including Macy’s, JCPenney, Dick’s Sporting Goods, At Home, and Hobby Lobby.

This rare opportunity allows investors the ability to acquire a high performing bank branch located in a fundamentally strong and affluent Detroit suburb. The asset offers secure, long-term cash flow backed by one of the world’s largest financial institutions.