NET LEASED KEY BANK PROPERTY SOLD

February 11, 2017

 

NET LEASED KEY BANK PROPERTY SOLD


Invest Commercial, a net leased investment brokerage firm, has completed the sale of a single

tenant Key Bank property located at 110 Genesee Street in Auburn, New York for $1,925,000.

The 13,000 Sq. Ft. building is located in the middle of the downtown Auburn business district.

There are 12 years left on the base lease term and the branch deposits are in excess of $125M.


The net lease features minimal landlord responsibilities and has a full corporate guarantee. The

branch was formerly First Niagara Bank, which was recently acquired by Key Bank.


Frank Caporrino, President of Invest Commercial, represented the buyer and Clem Cesare, Vice

President of Invest Commercial, represented the seller in the transaction. The seller was an

upstate New York development company and the purchaser was a private investor based in

New York who was completing a 1031 exchange.


“This particular bank property generated a lot of interest because of its long-term lease and

its significant low rent per sq. ft.”, said Frank Caporrino, President of Invest Commercial. “The

market remains strong for net leased bank properties with long term leases and strong

branch deposits”, added Clem Cesare.


ABOUT INVEST COMMERCIAL

Invest Commercial is a full service real estate brokerage firm specializing in single tenant net lease assets throughout the country. The Invest Commercial team provides a broad range of investment advisory services to our clients.


SERVICES OFFERED:

 Single Tenant Net Leased Transactions

 1031 Tax Deferred Exchanges

 Market Analysis

 Sale Leaseback Transactions

       OUR CLIENTS: 
High Net Worth Individuals 
Institutions & Private Equity Firms 
Real Estate Investment Trusts
Local & National Developers
WWW.INVEST-COMMERCIAL.COM

 

 

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 Invest-Commercial |  (516) 344-8008  | 1 Dupont St , Plainview, New York 11803