Fixed rental increases throughout entire term including options
Absolute NNN Ground Lease – No landlord management obligations
Hard corner, high traffic signalized intersection in the heart of Sarasota
Affluent market with above average household incomes
No debt to assume
Florida has NO STATE INCOME TAX
The CBRE Net Lease Property Group is pleased to exclusively offer this freestanding Chase Bank in Sarasota, Florida. Sarasota was ranked by US News & World Report in 2019 as being the top city in Florida to live in and #18 nationwide.
Chase Bank’s 20-year absolute NNN ground lease features ±14.5 years of primary term remaining and five 5-year options to renew. The lease includes attractive 10% rent increases every 5 years during the initial term and at each renewal option period. The property is ideally situated with excellent access and visibility at the signalized intersection of South Tamiami Trail (US 41) and Siesta Drive (Total Traffic Count: 55,100 VPD) which is the main thoroughfare to Siesta Key.
The site boasts an advantageous location in close proximity to Westfield Siesta Key, a 415,478 square foot mall anchored by Macy’s, L.A. Fitness and Cobb Theatres’ CineBistro as well as the Publix anchored Shops at Siesta Row and other national retailers such as CVS, McDonald’s, Walgreens, SunTrust Bank, Bank of America and Bonefish Grill to name a few.