BMO HARRIS BANK $1,601,000 | 5.60% CAP 2110 Burton Lane, Martinsville, IN 46151 - Secure Net Lease
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SUBJECT PROPERTY
Investment Grade Tenant (S&P A+)
BMO HARRIS BANK Absolute NNN (No Landlord Responsibilities)
$1,601,000 | 5.60% CAP
Long Term Corporate Lease (12.58 Years)
2020's Best Bank in Indiana
2110 Burton Lane, Martinsville, IN 46151
Located Along Dense Retail Corridor with 28,031
VPD
INVESTMENT OVERVIEW
BMO HARRIS BANK | MARTINSVILLE, INDIANA
$1,601,000 | 5.60% CAP CONTACT FOR DETAILS
RICH LYDON
EXECUTIVE VICE PRESIDENT
$89,648 ±6,896 SF ±0.89 ACRES
NOI BUILDING AREA LAND AREA (424) 301-6162
rlydon@securenetlease.com
$232 100% NNN
PRICE PER SF OCCUPANCY LEASE TYPE
IN BROKER OF RECORD
$31,829,000 MATT CHAMBERS
2019 BRANCH DEPOSITS PEAK GROUP LLC
License #: 481.000413
mchambers@sbcglobal.com
Investment Grade Tenant with S&P A+ Rating
Absolute NNN with No Landlord Responsibilities
Long Term Corporate Lease with Approximately 11.86 Years Remaining
RARE 1% + CPI Annual Rent Increases with Three (3) Five (5) Year Options This information has been secured from sources
we believe to be reliable but we make no
representations or warranties, expressed or implied,
37% Deposits Increase over 4 Year Period with Constant Increases Year Over year as to the accuracy of the information. Buyer must
Since 2015 verify the information and bears all risk for any
inaccuracies.
30 Miles South of Indianapolis
National Surrounding Retailers Include Kroger, Walgreens, Starbucks, McDonald’s and
Taco Bell SUBJECT PROPERTY
SECURE NET LEASE | 2
TENANT OVERVIEW
BMO HARRIS BANK | MARTINSVILLE, INDIANA
BMO HARRIS BANK (bmoharris.com)
CORPORATE GUARANTEE
BMO Harris Bank, N.A. is a United States bank based in Chicago, Illinois. It is a member
of the Federal Reserve System and operates branches in the states of Illinois, Indiana,
Arizona, Missouri, Minnesota, Kansas, Florida, and Wisconsin. BMO Harris Bank has
over 600 branches and 1,300 ATMs and employs 14,500 staff in the United States.
The bank is a subsidiary of the Canadian multinational investment bank and financial FILE PHOTO
$665B services company Bank of Montreal commonly known as "BMO" through its United
States operations, which do business as BMO Financial Group; through its US
TOTAL ASSETS operations, it owns BMO Harris Bank through the holding company BMO Financial
Corporation.
S&P : A+
CREDIT RATING
$77.5 B
CORPORATE
BRANCH
DEPOSITS
$35.8B
MARKET CAP
SECURE NET LEASE | 3
IN THE NEWS
BMO HARRIS BANK | MARTINSVILLE, INDIANA
CEO OF BMO HARRIS PARENT SEES MORE BMO TOPS ESTIMATES WITH WEALTH
U.S. GROWTH BEYOND MIDWEST MANAGEMENT GROWTH
April 02, 2019 (Crain’s Chicago Business) Doug Alexander, February 25, 2020 (BNN Bloomberg)
“That’s what’s driving a lot of the non-Midwest growth—the commercial Bank of Montreal is making progress in its five-year effort to double earnings
business,” White told reporters after the bank’s investors meeting Tuesday in from wealth management.
Toronto.
The bank is making progress, with a 22 percent increase in earnings from the
The head of Canada’s fourth-largest lender by assets highlighted his U.S. business in its fiscal first quarter. That helped the company beat analysts’
strategy during the annual session, noting that roughly 50 percent of Bank of estimates.
Montreal’s business from the U.S. is from the seven Midwest states it considers
its “core footprint.” Two-thirds of new commercial loans in the U.S. are in Bank of Montreal has built on its wealth business in the past year, including
industries that are national in scope, he said. hiring Wells Fargo & Co.’s Kristi Mitchem to lead the bank’s asset-management
The Toronto-based lender has been accelerating growth in the U.S.,
Bank of Montreal is getting about half of its U.S. business from outside
building out services for wealthy clients and expanding its global asset
the company’s Midwest stronghold, thanks to a commercial-banking
manager, with the aim of getting $2 billion in annual profit from wealth
push.
management by 2023.
The bank’s BMO Capital Markets division is also boosting company revenue
from business across the U.S., and its wealth-management business is a division. Wealth-management earnings, which include insurance, climbed to
smaller but growing contributor to non-Midwest growth, White said. He’s been $291 million.
pushing to boost the share of earnings that come from U.S. operations, which
include Chicago-based BMO Harris Bank, to a third of overall profit in three to Bank of Montreal’s U.S. banking division, which includes Chicago-based BMO
five years. In the past 12 months, 30 percent of earnings were from the U.S., he Harris Bank, has increased profits at a faster pace than its Canadian division for
said. most of the past two years. That effort faltered in the first quarter, with earnings
from the U.S. personal-and-commercial division falling 21 per cent to $351
million, hurt by a surge in loan-loss provisions and tighter margins.
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4 | SECURE NET LEASE
LEASE OVERVIEW
BMO HARRIS BANK | MARTINSVILLE, INDIANA
LEASE COMMENCEMENT 10/1/2019
LEASE EXPIRATION 4/30/2032
LEASE TERM Twelve (12) Years & Seven (7) Months
LEASE TYPE Absolute NNN
LEASE GUARANTOR Corporate
RENT INCREASES 1.0% + CPI Annually
YEAR 1 $89,648.00
YRS. 2 - 12 & 7 MOS. (EXAMPLE): CPI- All Urban Consumers (Current Series)
August 2018 =252.146
August 2019 = 256.558
Difference = 4.412 (256.558 - 252.146)
CPI Increase = 1.75% for 12 Month Period (4.412/252.146)
Rental Rate Increase = 1% + 1.75% = 2.75%
OPTIONS Three (3) Five (5) Years Options
ROFR None
This information has been secured from sources we believe to be
reliable but we make no representations or warranties, expressed or SUBJECT PROPERTY
implied, as to the accuracy of the information. Buyer must verify the
information and bears all risk for any inaccuracies.
SECURE NET LEASE | 5
ARTESIAN
LITTLE LEAGUE
MARTINSVILLE
CITY PARK
IU HEALTH
MORGAN
(116BEDS)
MARTINSVILLE
HIGH SCHOOL
(1,490 STUDENTS)
JOHN R. WOODEN
MIDDLE SCHOOL
(748 STUDENTS)
SOUTH
ELEMENTARY
SCHOOL
(415 STUDENTS)
6 | SECURE NET LEASE
SITE OVERVIEW
BMO HARRIS BANK | MARTINSVILLE,
INDIANA
1975
LANE
BURTON
YR BUILT
±6,896 SF
BUILDING AREA
±0.89 ACRES
LAND AREA
MONUMENT SIGN
VIRGINIA STREET
NEIGHBORING RETAILERS
Marathon Gas AT&T Store
AutoZone Auto Parts Walgreens
NAPA Auto Parts Kroger
Casey's Goodwill Store
Dollar General Pizza Hut
O'Reilly Auto Parts Subway
Save A Lot Burger King SUBJECT PROPERTY
Papa John's Pizza Anytime Fitness
Coinstar Wendy's
This information has been secured from sources we believe
to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information.
Buyer must verify the information and bears all risk for any
inaccuracies.
SECURE NET LEASE | 7
LOCATION OVERVIEW
BMO HARRIS BANK | MARTINSVILLE, INDIANA
DEMOGRAPHICS 1-MILE 3-MILE 5-MILE
POPULATION 3,204 13,630 19,201
HOUSEHOLDS 1,356 5,553 7,701
AVG. HH INCOME $49,058 $60,076 $69,398
TOTAL HH EXPENDITURE $58.57 M $273.58 M $418.51 M
VIEW MAP
ECONOMIC DRIVERS (# of Employees)
Daniel Industries, Inc. (959) Becton, Dickinson and Company (429) The Cheesecake Factory Restaurants Inc. (232)
Nice-Pak Products, Inc. (550) Indiana University Health Morgan, Inc. (380) Center Grove Community School Corporation (224)
Indiana Dept of Correction (500) Ingram Micro Inc. (337) Menard, Inc. (200)
Walmart Inc. (500) Xpo Logistics Freight, Inc. (310) County of Morgan (200)
Franciscan Alliance, Inc. (500) TOA (usa), LLC (292) Meijer, Inc. (200)
8 | SECURE NET LEASE
LOCATION OVERVIEW
BMO HARRIS BANK | MARTINSVILLE, INDIANA
MARTINSVILLE
INDIANA
11,632
POPULATION
$33,545
MEDIAN HOUSEHOLD INCOME
Earning the nickname City of Mineral Water for its well-known mineral water companies-Anthem, Inc, Eli Lily and Simon Property Group. Biotechnology, life
sanitariums featuring healing waters, Martinsville has been the county seat of science and healthcare play a major role in Indianapolis' economy, with the North
Morgan County since its founding in 1822. Located in south-central Indiana, American HQ for Roche located in the city. Eli Lily and Company is the largest
private employer in the city with over 11,000 workers. The city is also home to the
second largest FedEx Express hub in the world. Indianapolis' central location
The City of Martinsville’s appeal has attracted a number of varied
makes it an important logistics center. The hospitality industry is also an
developments recently, adding to its industrial, commercial and
increasingly vital sector for the area. Indianapolis is experiencing record growth,
infrastructure growth.
generating $4.9 billion dollars in the hospitality industry last year. From the
legendary Indianapolis 500 to the Colts, the city offers ample opportunities to view
professional and amateur sporting events.
Martinsville has become home to some of the nation's leading health resorts.
Martinsville is a flourishing economic hub along the I-69 corridor located 30 miles
south of Indianapolis. The City of Martinsville’s appeal has attracted a number of
MARTINSVILLE IS INDIANAPOLIS WAS
varied developments recently, adding to its industrial, commercial and
infrastructure growth. Indianapolis is the capital and most populated city in
NASCAR HOME TO NASCAR’S 2020 RANKED BY ZILLOW IN
OLDEST TRACK. THE "TOP 10 MARKETS
Indiana. It is the economic and cultural center of the Indianapolis MSA and is the FOR FUTURE TECH
34th most populated MSA in the nation. Indianapolis is home to three Fortune 500 GROWTH" IN 2020.
SECURE NET LEASE | 9
IN THE NEWS
BMO HARRIS BANK | MARTINSVILLE, INDIANA
NEW REPORT DETAILS GROWTH IN INDY AMONG TOP 10 MARKETS FOR FUTURE
INDIANAPOLIS TECH COMMUNITY TECH GROWTH
CompTIA, March 28, 2019 (Cision PR Newswire) Merritt McLaughlin, January 13, 2020 (Inside INDIANA Business)
Net tech employment in the Indianapolis market grew by 2.2 percent last year Indianapolis has been recognized on Zillow’s list of top 10 markets for future
to an estimated 74,615 workers, or 7 percent of the region's total workforce. tech growth. The website put Indy in the fourth slot based on factors such as
More than 14,500 tech-related jobs have been added to the local economy housing affordability, commute ability and available tech workers.
since 2010.
The Zillow analysis uses a variety of data sources from its own website,
The tech sector's contribution to the local economy is estimated at $9.3 billion. LinkedIn, Ookla and the U.S. Census.
Other factors that cities were ranked on included: housing affordability, market
'hotness,' demographics and labor market dynamics indicating a robust
"Indianapolis is clearly making a name for itself nationally and
internationally as the tech capital of the Midwest."
The analysis found that Indianapolis scored higher than traditional tech
hotspots like Los Angeles and Bay Area because those cities lacked the
From industry leaders to start-ups and everything in between, Indianapolis has affordability and quality of life that the Hoosier state offers.
seen an explosion of IT, research and development, engineering and tech
manufacturing companies that have chosen to call our community home,
bringing billions of dollars to the local economy. Clearly, our investment in our
neighborhoods and in the quality of life of residents has made our city an economy, a pool of talented and available tech workers and appeal of living in
attractive one for these tech businesses and their employees." the market based on factors like commute times.
Tech occupations in high demand in the market include software and web
developers (+3.5 percent year over year growth) and computer system and CLICK HERE TO READ MORE
cybersecurity analysts (+3.1 percent).
The median tech occupation wage is $71,440; 76 percent higher than the
median wage for all occupations.
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10 | SECURE NET LEASEINDIANAPOLIS–CARMEL–ANDERSON
BMO HARRIS BANK | MARTINSVILLE, INDIANA
INDIANAPOLIS METROPOLITAN
AIRPORT
INDIANAPOLIS REGIONAL
AIRPORT
CUMMINS
DISTRIBUTION HEADQUARTER
UNIVERSITY OF
INDIANAPOLIS
11 | SECURE NET LEASEWE LOOK FORWARD TO HEARING FROM YOU
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