Fifth Third Bank 15-Year Ground Lease
For sale to qualified investors is the fee simple interest in the newly-built Fifth Third Bank (NASDAQ: FITB) in Lyndhurst, Ohio. This new branch serves as a relocation from their former Lyndhurst location and provides the bank with their prototypical 1,900 SF drive-thru building, signalized access, and high traffic counts. Fifth Third leases the property on an absolute NNN ground lease basis which is hands-off to the owner. Situated front and center at the signalized entrance to The Greens of Lyndhurst Shopping Center, this bank has excellent street presence and features deeded cross easement access and parking for the surrounding shopping center. Lyndhurst is a very affluent eastern suburb of Cleveland and is one of the major retail corridors in the area. Mayfield Road has long been known as the main shopping and business area serving all of Cleveland’s wealthy eastern suburbs, and it is not uncommon for retailers to take years to secure a location. This asset offers the investor high barrier-to-entry real estate, 100% hands off ownership, corporate guaranty, and core fundamentals providing a safe return for years.