The Boulder Group Arranges Sale of Net Leased Chase Bank Property in Louisville, Kentucky
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Chase Bank property located at 3600 Bardstown Road in Louisville, Kentucky for $3,700,000.
The 3,176 square foot Chase Bank benefits from its location along Bardstown Road (50,342 VPD), less than 1 mile from Interstate 264 (182,427 VPD).
Tenants nearby include Costco, Walmart, Target, Lowe’s, Burlington, Kroger, Harbor Freight, Walgreens, AutoZone, Dollar Tree, Valvoline, Verizon, T-Mobile, Chick-fil-A, KFC, Starbucks, McDonald’s, Taco Bell, Wendy’s, Arby’s, Pizza Hut, Chili’s White Castle, Jack in the Box, and Seneca High School (1,250+ students). The population is 253,663 within a five-mile radius, with an average annual household income of $94,633.
This triple net lease has over 11 years remaining with two 5-year renewal options. There are 10% rental escalations in each option. The property has annual deposits in excess of $83 million as of June 2024.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The buyer is a Midwest-based institution, and the seller is a private family from the Midwest.
Chase Bank, the U.S. consumer and commercial banking arm of JPMorgan Chase & Co. (NYSE: JPM), is an integral component of a leading global financial services firm with operations spanning over 60 countries and $2.6 trillion in assets. Founded in 1799 as the Bank of the Manhattan Company, Chase boasts a rich heritage steeped in financial innovation and service excellence. Today, it serves millions of customers nationwide, with over 4,700 branches and 16,000 ATMs, making it one of the largest banking institutions in the United States.
“Bank properties with strong deposits and long operating histories remain attractive investments” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner at The Boulder Group, added, “This deal signifies that investors still value reputable tenants such as Chase Bank.
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
