Documents
Attributes
Year Built | 1958 |
Building Area Net |
|
Occupancy | 100.0 % |
Call for Offers | 2022-04-13 |
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer a single tenant Fulton Bank (the “Property”) in York, PA. Fulton Bank, an investment grade tenant, has recently commenced on a seven-year term lease with two (2) five (5) year option periods. Situated in the heart of densely populated York, Fulton Bank is positioned next to some of York’s biggest attractions such as the York Expo Center, Yorktown Mall (251.6k annual visits) and more.
Investment Highlights
Investment Grade Tenant
- Fulton Bank (Fulton Financial Corporation) maintains an investment grade credit rating of Baa1 (Moody’s)
- With the recent acquisition of the wealth practice, Mayo Financial Center, in Virginia Beach, the financial institution continues to demonstrate success following the pandemic
Strong Bank Deposits
- Fulton Bank recently singed a brand new 7-year lease
- The lease features an attractive, 2.5% annual increase in each of the two (2) five (5) year options
Excellent Roadway Visibility
- Ideally situated between Route 30, which has 25,000+ VPD and Interstate 83 which has 65,000+ VPD, allows for exceptional roadway visibility
Highly Populated Downtown York, PA
- York, Pennsylvania’s annual population growth of over 2% between 2014 and 2019, outpaces the Pennsylvania average (+0.2%)
- Since 2010, York has grown 3.97%
- Over 152,000 people within 5 miles of the property
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