GROUND LEASE WITH ZERO LANDLORD RESPONSIBILITIES
- The subject property operates as an absolute ground lease with zero landlord responsibilities.
NEW LEASE RENEWAL WITH RENT INCREASES
- The tenant just signed a new 5-year lease renewal demonstrating their commitment to this location.
- The lease has a scheduled 10% rent escalation every five years.
STRONG TENANT & BRANCH DEPOSITS
- Huntington Bank is a Publicly Traded Company (NASDAQ: HBAN) with $4.35B in annual revenue and 800 locations.
- As of June 2019, branch deposits were estimated at $71,556,000 (Source: FDIC)