Indianapolis, Indiana – Our NNN Commercial Real Estate news comes on a Bank Ground Lease transaction. A NNN Commercial Real Estate development was purchased by an undisclosed, private high net worth Canada-based investor. Triple Net Lease Properties in Florida are being devoured by NNN Commercial Real Estate Investors from Canada and South America.
A NNN Commercial Real Estate firm, which specializes in Net Lease Properties, helped procure the sale of this Indiana Net Leased Property. This Indiana Net Lease Investment sold for $1,619,718. The Indiana NNN Commercial Real Estate site has Citizens Financial Bank as the net leased property Tenant. This Net Leased Property was marketed at a Cap Rate of 6.80% for the Citizens Financial Bank Ground Lease. The Indiana Net Leased Property sits on about 36,257 square feet of land for the Ground Lease.
CFS Bancorp, Inc. is the holding company for the Net Leased Property Tenant, Citizens Financial Bank. This NNN Commercial Property Tenant is a $1.1 billion asset federal savings bank. This Net Leased Property tenant serves private investors and businesses in the northwestern Indiana and northeastern Illinois areas. The Citizens Financial Bank also serves parts of the Chicago metropolitan statistical area (MSA). This is a prime example of a quality Tenant for Net Lease Properties, as the Bank has over 21 branches. They use their funds primarily to originate commercial loans, Mortgages, construction loans, land development loans, and business loans.
This Net Lease Property (Ground Lease) is located at 11100 US 231, Saint John, Indiana, The Bank Ground Lease Property has 46373 as the zip code and sits in Lake County. This Indiana Ground Lease Property will benefit from a wide range of retail traffic in the vicinity from Target, Kmart, Tractor Supply Company, Starbucks Coffee, Dunkin Donuts, Walgreen’s Net Leased Property, and a Dairy Queen for ice cream. This Net Leased Property has a Building that is about 3,111 square feet. The Bank Ground Lease is sitting across from St. John the Evangelist, a Catholic church.
Retail Shopping Center Investments
A Grocery-anchored Retail Shopping Center with Aldi Grocery Store, as Net Lease Property Tenant, is nearby. A variety of new housing subdivisions are situated near this Indiana Ground Lease Property, as it looks like a continued stream of growth here. This Bank Ground Lease benefits from St. John being ranked 48th on a CNN list of top 100 places to live in the United States.
Indiana Commercial Property Search
The Indiana NNN Commercial Real Estate site is positioned about 39 miles south of downtown Chicago. This Citizens Financial Bank Ground Lease is just east of the signalized intersection of U.S. Highway 41 (also known as Wicker Avenue) and U.S. Highway 231 (West 109th Avenue). This Indiana Net Leased Property had a daily traffic volume study done on U.S. Highway 41 at this intersection with results of approximately 14,219 vehicles per day (VPD) in 2003.
This single tenant net lease property (STNL) was constructed in 2009. This was an attractive deal with a Publicly traded company to guarantee the net lease. The NNN Commercial Real Estate site has 12.5% rental escalations every five years. Many NNN Commercial Real Estate Investors were interested in this rare Citizens Financial Bank ground lease located within the Chicago metropolitan statistical area. Net Lease Properties Investors prefer these long term absolute net ground lease with zero landlord responsibilities.
Contact Net Lease Properties to sell your triple net lease properties, or to purchase NNN Property.
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