118 Green Valley Rd
Pittsburgh, PA 15237
PNC Bank · Retail Property For Sale

CBRE as exclusive advisor is pleased to present to qualified investors the opportunity to acquire PNC Bank in Pittsburgh, PA. This is a NNN ground lease property with no landlord responsibilities or expenses. PNC exercised a renewal option early showing dedication to the site, and providing an investor with 8 years of firm term remaining. Additionally, there is an 11% rental increase in the term commencing in April 2021. The lease is corporately guaranteed by PNC Bank, an investment grade credit tenant rated "A" by Standard & Poor's. As of June 30, 2017, total deposits at this location are over $103 million. PNC Bank sits at the foot of Mount Nebo Pointe, a retail power center anchored by Sam's Club and Target, with additional tenants including Dollar Tree, Sherwin Williams, Verizon and Gamestop. This is a also a main retail location with nearby surrounding tenants including Sheetz, Home Depot and Giant. PNC Bank is located just 11 minutes from downtown Pittsburgh, in the demographically rich area of the North Hills. The bank was built in 2006 and offers a modern design with high ceilings, a three-lane covered drive thru and abundant parking with 46 spaces. This recent construction makes the building a long term functional asset for PNC Bank. The property sits on a large 1.30 acre parcel, creating numerous development opportunities in the future. This is a densely populated area with over 57,000 people within 3 miles and over 153,000 people within 5 miles. The site is ideally located immediately off the Camp Horne Road exit of the heavily traveled Interstate I-279 corridor (50,000 cars per day).