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Chase Bank Ground Lease, Fulshear, TX

Chase Bank Ground Lease

Price $4,125,000
Cap Rate
NOI
Lease Term 18.5 Years Remaining
Lease Type Absolute NNN Ground Lease, With Tenant Responsible for all Taxes, Insurance, Maintenance, and Repair, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2017
Building Size 3,459 SF
Lot Size 0.82 acres (35,535 SF)
Status sOLD
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM ABSOLUTE NNN GROUND LEASE
» Long-term NNN ground lease with scheduled rental increases, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot

INVESTMENT GRADE TENANT WITH STRONG FINANCIALS
» Corporate lease to JP Morgan Chase (NYSE: “JPM”), rated “A+” by Standard & Poor’s
» JPMorgan Chase, through its Chase subsidiary, is one of the Big Four banks of the United States and has over $2.6 trillion in assets
» Chase has the second largest market share (18.01%) by total deposit value in Fort Bend County and the largest market share (25.70%) by total deposit value in the 77494 area code where the subject property is located

EXCELLENT LOCATION IN HIGH GROWTH MARKET
» Outparcel to The Market at Cross Creek Ranch, a new shopping center development anchored by H-E-B
» Prime location at the entrance to the Cross Creek Ranch planned community, which will feature 7,200 homes and have a population of 18,560 upon completion
» Located in a rapidly developing area, with approximately 43,000 new homes recently completed, under construction, or planned within a five-mile radius
» Within walking distance of two new schools being built directly behind The Market at Cross Creek Ranch; the two schools will jointly serve 3,400 students and represent a more than $250 million investment by the Katy Independent School District into the Cross Creek Ranch community

HIGH-TRAFFIC LOCATION WITH ROBUST DEMOGRAPHICS
» Located at a signalized intersection with excellent visibility and access to 34,682 vehicles per day, a traffic count that is growing as development continues
» Average household incomes equal or exceed $169,000 within one-, three-, and five-mile radii
» 134,022 residents living within five miles of the property



Property Description

SOLD
The property is strategically located at the signalized intersection of Fulshear Bend Drive and FM 1463, with excellent visibility and access to 34,682 vehicles per day. The property is outparcel to The Market at Cross Creek Ranch, a new shopping center development anchored by H-E-B and featuring well-known tenants like Great Clips, MOD Pizza, Leslie’s Pool Supplies, Regions Bank, and more. Located in a rapidly growing commercial and retail corridor, the property is also near national brands like Walmart Supercenter, PetSmart, Chick-fil-A, Aldi, AutoZone, CVS, and McDonald’s.

The property benefits from its prime location in the heart of a new growth market. The property is part of the Cross Creek Ranch planned community, which is expected to feature 7,200 homes and have a population of 18,560 upon completion. Other communities are under development in the surrounding area, and approximately 43,000 new homes are planned within a five-mile radius of the property. The property is also within walking distance of two new schools being built directly behind The Market at Cross Creek Ranch. The two schools will jointly serve 3,400 students and represent a more than $250 million investment by the Katy Independent School District into the Cross Creek Ranch community. Additionally, the property is supported by a large, affluent customer base; 134,022 residents live within five miles of the property, and average household incomes equal or exceed $169,000 within one-, three-, and five-mile radii.

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