Investors Bank | 15-Year Ground Lease | 10% Increases | Hackensack, NJ (15 Miles from Manhattan)

Agent Info

Brandon Hanna

248.702.0290
bhanna@encorereis.com

Ryan Vinco

248.702.0299
ryan@encorereis.com

Charles Slane

614.496.1307
charles@encorereis.com

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Offering Information

70 Hackensack Ave
Hackensack, NJ 07601

  • Price: $3,333,333
  • Cap. Rate: 4.5%
  • NOI: $150,000
  • Building Size: 4,000SF
  • Lot Size: 1.0 AC

Investment Highlights

  • 15 Year Ground Lease with 10% Rent Increases in Year 6 and 11 of the Primary Term
  • Brand New Construction Bank Branch Opened For Business July 2017
  • Investor Bank NASDAQ "ISBC" is S&P Rated BBB; Parent Company Investors Bancorp, Inc has S&B Rating BBB-
  • Over $24 Billion in Assets and a Network of over 150 Retail Branches
  • (4) Five Year Options each with 10% Increases Every Five Years
  • Located on Hackensack Ave Directly Across the Street from Super Target
  • Adjacent to Fairleigh Dickinson University Metropolitan Campus - 6,000+ students
  • Less than 15 miles from Manhattan |Less than 10 miles from Yankee Stadium
  • Hackensack, NJ - Up and New Coming; Great for Young Adults
  • Multiple Transit Options to Commute To and From New York
  • Average Household Income $93,220 of the Average Age of 38
  • Population Within 5 Mile Radius Exceeds 480,000