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Kearny Bank

$ 2,116,364
Brick Township, New Jersey
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Address: 2 Brick Boulevard,, Brick Township, New Jersey, United States 08753

Type: Bank

Cap Rate: 5.50%

Lease Type: Triple-Net (NNN) Lease

Annual Rent: $116,400

Net Operating Income: $116,400

Lease Term Remaining: 10.75 Years

Rental Increases: Roughly 3% Increase in 2023

Options: One (1), Two (2)-Year Option

Rentable Sq/Ft: 2,152 SF

Rent Sq/Ft: $54.09

Price Sq/Ft: $983

Lot Size: 0.84 Acres

Marcus & Millichap is pleased to present the exclusive listing for the Kearny Bank located at 2 Brick Boulevard, Brick, NJ. The property consists of approximately 2,152 rentable square feet on 0.84 acres of land.
The subject property is subject to a triple-net (NNN) lease that has nearly 11 years left on the lease. The tenant pays an annual rent of $116,400 that is scheduled to increase by roughly 3% in 2023 and there is one, two-year option.

Founded in 1884 as a New Jersey building & loan association, Kearny Bank was established to help their local friends and neighbors succeed. Now a vital part of 48 communities across the region, and with assets topping $6.7 billion, they have the opportunity to help a lot more people— all while still maintaining the essence of a true community bank.
At Kearny Bank, the offerings are defined almost entirely based on the needs of their clients. By providing a range of flexible programs designed to help them earn, save, and borrow, they’re here to empower them in achieving the goals that matter most.

On the commercial side, the bank gives businesses and municipalities access to capital that can help grow their business and real estate holdings. They are also one of New Jersey’s only preferred SBA (Small Business Administration) lenders, enabling them to speed and simplify lending for qualified firms.
Kearny Bank is dedicated to providing professional service and sound financial advice to our client and shareholder base. This is successfully accomplished through deep-rooted guiding principles of strong values consisting of ethics and integrity, and by giving back to the communities they serve. Through their financial expertise, strong leadership, and loyal relationships, they help their clients achieve their financial goals both for today and for tomorrow.

“With financial grants and the hands-on participation of many of our employees, it’s both our pleasure and our responsibility to improve lives throughout all the areas we serve. Through the KearnyBank Foundation, we support the important work done by organizations and groups who help the disadvantaged, the young, the sick, the elderly and others.”

 

Broker of Record: Brian Hosey  License #1434917

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Glen Kunofsky

President, Founder
(212) 430-5115

Josh Kanter

Vice President, Investments
(212) 430-5189