Single Tenant Citizens Bank with Three-Lane Drive Thru

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Citizens Bank, (the “Property”) in Medford, New Jersey, a township just 20 miles southeast of Philadelphia. Citizens Bank operates on a NN+ lease with minimal landlord responsibilities limited to the structure only, with the roof still the Tenant’s responsibility. The lease features a strong 12% rental increase in the one remaining five-year option period. The property is located in Medford, New Jersey, within the Cross Keys Center at the corner of the signalized intersection of Stokes Road and Jackson Road, two thoroughfares that combine for 22,000 VPD and provide excellent visibility to local traffic. The 1.24 acre property features three drive-thru lanes, ensuring fast and efficient customer service. The area surrounding the property is exceptionally affluent, with average household incomes of $186,000 within a 1-mile radius, $189,000 within a 3-mile radius, and $177,000 within a 5-mile radius. Medford is part of the Philadelphia MSA; the 8th largest metropolitan area in the U.S., home to 6.25 million residents. Less than a mile from the property, the Medford Run community, a development of 30 townhomes by JP Orleans, has been completed, bringing additional residents to the area. Citizens Bank, N.A. is an investment grade credit tenant with an S&P credit rating of A- and over 1,000 bank branches in 16 states. As of September 30, 2024, Citizens has $175.2 billion in deposits. Citizens Financial Group, Inc., the parent company of Citizens Bank, N.A., is one of the nation’s oldest and largest financial institutions, with $217.5 billion in assets as of December 31, 2024.