IRVINE, Calif. – (July 28, 2021) Faris Lee Investments arranged the sale of a STNL Chase Bank located in a grocery anchored shopping center within a dominant retail corridor of Baton Rouge, LA.

The property presented a unique investment opportunity with a new 20-year lease term and brand new construction. The team focused on the financial strength of the tenant, low rent per square, affluent location, and new prototype building with a drive thru ATM, which presented an advantage during the COVID-19 pandemic.

The transaction closed at 96% of the listing price at one of the lowest cap rates achieved by a Chase Bank ground lease. The team was able to generate multiple offers and JP Morgan exercised their option to purchase.