Chase Bank, a subsidiary of JP Morgan Chase, provides consumer and commercial banking across 5,200 locations in the United States with deposits of nearly $650 billion as of June 2010. Their typical lease is for a term of 15-20 years with four (4) renewal options at five (5) years per option. Their cap rates are customarily in the lower range of theose in the global net lease world; a by product of their high credit and class A real estate requirements. The typical Chase lease provide for rent growth, with 10% increases every five (5) years as the standard schedule. From a Realty perspective, Chase utilizes 7 different prototypes, depending on location and available site dimensions, with the bank branches spanning from 3K to 4K square feet situated on 0.5 to 1 acre MOL of land. While Chase prefers to own their locations, when a new site is opened as part of a lease agreement, they will retain ownership of the improvements through the utilization of a long term unsubordinated ground lease.