- Ground Lease – Over Nine Years Remaining
- Average Household Income $130,338 Within Three Miles
- Four – Five Option Terms With 15% Increases
- Corporate Guarantee (S&P: A)
- Washington DC MSA
This investment consists of a single tenant ground lease PNC Bank. PNC bank signed a 20 year ground lease and built their bank branch in 2008. PNC bank is responsible for all charges associated with the property. PNC Bank has four – five year options to extend past the initial term with 15% increases in each.
Currently the property has about $44 Million in deposits at this location. The property sits adjacent to Walmart.
PNC Bank is located near many national and regional retailers such as Walmart, Ruby Tuesday, Giant, Capital One Bank, Sally Beauty, The UPS Store, 7-Eleven, Advance Auto Parts, Mattress Firm, Hair Cuttery, GNC and many more.