Available For Sale - Office

3,200 SF | Show Pricing $

AVAILABILITY DETAILS

Size
3,200 SF
Price/SF
Show Pricing $
Listing ID
SA440801
Notes
DESCRIPTION

- This store is a relocation of a successful Chase Bank location across the street. The previous location reported strong deposits of ~$197 Million in 2019.

- The tenant, JPMorgan Chase Bank (S&P: A-), is the largest bank in the U.S. with assets of $2.6 trillion and operations worldwide.

- In May 2020, Chase Bank executed a new ten (10) year lease. The lease has four (4), five (5) year options.

- The lease provides for 10% rental increases every five (5) years.

- The lease structure is double net (NN), with some landlord responsibilities. See page 9 of the OM for further details.

- The Chase Bank is located in the Downtown Novato Center, which is in the heart of downtown Novato. This area is known for its boutiques, restaurants and specialty stores.

- The Chase Bank is also surrounded by national retailers including CVS Pharmacy, Sonoma Fitness, Lucky California, Baskin Robbins, Little Caesars, Wells Fargo, US Bank and Taco Bell, among others.

- The average household income in the five (5) mile demographic ring is an affluent $151,664, which is above California’s state average of $110,857.

- Novato is the northernmost city in Marin County, and is located 29 miles (40 minutes) north of San Francisco. Novato is also the gateway to wine country, and is located 53 miles (90 minutes) from Sonoma County.

- The property is situated on the hard-signalized corner of Grant Ave. & 7th St., which report combined traffic counts of 22,013 cars per day.

- The Buck Institute for Research on Aging, one of the foremost non-profit, biomedical research institutes in the world, is headquartered in Novato, furthering Novato’s expansion as the biotech hub of the North Bay. Buck Institute is located just 2 miles (8 minutes) from the subject property.

- Novato’s business mix includes corporate headquarters, state-of-the-art technology companies, and a variety of retail centers.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Ian Schroeder, CBRE