The Cooper Commercial Investment Group closed the sale of a single-tenant absolute NNN floor lease to Chase Financial institution in Avon, Ohio.
The bottom lease was commenced in November of 2019 on a 20-year time period with a number of lease will increase. Chase handles all on-site upkeep and working bills, leaving the brand new possession with no administration obligations.
Dan Cooper, president and dealer of Cooper Industrial Funding Group, represented the vendor, a personal funding group in Cleveland. The all-cash West Coast purchaser bought the property for its full asking pric eof $1.89 million, representing a 40 p.c cap price and $545 a sq. foot.