May 20, 2020 – Jeremy Black and Brad Canova of Horvath & Tremblay have successfully completed the sale of Chase Bank in Columbus, Ohio. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $3,100,000, a 5.07% Cap Rate
Chase Bank is located at 1431 W Lane Avenue in Columbus, Ohio. Constructed in 2008, the stand-alone building consists of 3,017 square feet and sits on 0.49 acres of land. Chase Bank has eight (8) years remaining on a 20-year Ground Lease with four (4), 5-year option periods. The lease features 10.0% increases every five years throughout the base term and option periods. Chase Bank is extremely well located, at the intersection of West Lane Avenue and N Star Road and is less than 1-mile from The Ohio State University campus. The property also benefits from extremely strong demographics, with 334,971 people within a 5-mile radius and traffic counts in excess of 33,000 vehicles per day
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.