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Marketing Description
CBRE Net Lease Property group is pleased to exclusively present for sale this two tenant NN property located in Sewickley, Pennsylvania. This property, occupied by Citizens Bank and Sherwin Williams, boasts two corporately guaranteed leases by investment grade credit tenants. Sherwin Williams signed a new 10 year lease in 2015 which currently has over 7 years remaining, with a rental increase upcoming in year 6. Citizens Bank just extended its first five year option period, leaving two option periods remaining each with a 10% rental increase. This is a NN lease investment with minimal landlord responsibilities.
Investment Highlights
- Two corporately guaranteed leases by investment grade credit tenants (Citizens Bank A-, Sherwin Williams A by S&P)
- Prime Pittsburgh real estate located in the heart of Sewickley Village, home to numerous shops and restaurants
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Citizens Bank has been a tenant here since 2002 and just extended its first option period showing commitment to the site
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Citizens Bank has excellent deposits with over $115,000,000 in 2016
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Citizens Bank has 10% rental increases every 5 years
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Dedicated parking lot with 25 spaces
- Surrounding tenants include Rite Aid, Wine & Spirits, and Starbucks, along with countless local stores and restaurants
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Signalized corner location with excellent visibility, and traffic counts over 9,700 vehicles per day
- Strong demographics with over 5,400 people within 1 mile of the property and an average household income over $121,000
Public Record 1
Public Record 2
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Loan History
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Contact Information
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Ownership Information
Property Details
Contacts
Listing removed on
BY:
Matthew Gorman PRO
•••.•••.2340
•••••••.••rman@••••.com
Listing removed on
BY:
Michael Shover PRO
•••.•••.2344
•••••••.••over@••••.com
Listing removed on
BY:
Marc Mandel PRO
•••.•••.2621
•••ndel@••••••••.com
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