September 1, 2020 –Brad Canova, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Chase Bank in San Antonio, Texas. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $3,050,000, a 5.55% Cap Rate
Chase Bank is located at 8597 Blanco Road in San Antonio, Texas. Constructed in 2010, the stand-alone building consists of 3,017 square feet and sits on 0.49 acres of land. Chase Bank has ten (10) 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 Avenue and Blanco Road, a high-traffic, densely populated trade area in central San Antonio. Chase Bank is an outparcel to Valley View Shopping Center, a community retail center anchored by a dominant Marshall’s/HomeGoods that is one of the top performers in the market. The property also benefits from extremely strong demographics, with 315,000 people within a 5-mile radius and traffic counts in excess of 59,000 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.