August 24, 2021 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of Chase Bank in Roxbury, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,710,000.
Chase Bank is located at 1250 US Route 46 in Roxbury, New Jersey. Chase Bank recently exercised their renewal option on their double-net lease and has 5+ years remaining on their lease with one, 5-year renewal option remaining. The lease features a 12% rental increase at the start of their remaining option periods. Chase Bank is well located along US Route 46 with excellent visibility and access. The Property is situated on the corner of US Route 46 and Ledgewood Road, ¼-mile from the intersection of US Route 46 and NJ Route 10, Roxbury’s primary commercial corridors. An average traffic count of over 46,700 vehicles per day pass by the property along US Route 46. The Property is surrounded by numerous national tenants and retail centers drawing significant traffic to the area, and is 1-mile from Interstate 80. Roxbury is an affluent town in northern New Jersey and is approximately 40 miles west of the New York City.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.