Tenancy Type: National
Lease Type: Absolute NNN
Address: 36200 Detroit Road
The Cooper Commercial Investment Group is pleased to announce the sale of the single-tenant, Absolute NNN Ground Lease to Chase Bank (NYSE: JPM) under construction in Avon, Ohio. The Ground Lease is commenced in November of 2019 on a 20-year term with multiple rental increases throughout the term. Chase handles all on-site maintenance and operating expenses direct, leaving the new ownership with NO management responsibilities.
Dan Cooper, President and Broker of the Cooper Commercial Investment Group in Cleveland, Ohio, had the privilege to represent the seller, a private investment group out of Cleveland. The all-cash, West Coast buyer purchased the property for its full asking price of $1,890,000, representing a 4.50% CAP Rate and $545/SF. Through marketing efforts, the Cooper Group generated multiple competitive offers on the property. The Cooper Commercial Investment Group looks forward to working with parties interested in selling or looking to acquire other similar commercial assets, and encourages you to contact them for a no obligation, evaluation of your commercial property. Visit them on line at www.CooperGrp.com for the most up-to-date listings and information, stay connected by, “Like” them on Facebook and follow them on Twitter @TheCooperGrp.