Citizens Bank
High Performing Location | Absolute Net Lease | Rare Annual Rent Growth
Marketing description
Citizens Bank is located in Wexford, approximately 20 minutes north of downtown Pittsburgh in the Pittsburgh MSA. The property features prominent frontage along Perry Highway with over 32,000 vehicles per day. The bank branch has been operating at this location since 2007 and recently executed a 7-year lease extension in 2025, demonstrating long-term tenant commitment to the site.
The surrounding trade area is characterized by affluent demographics, with an average household income of $210,361 within a 3-mile radius and nearly 89,000 residents within 5 miles. The property benefits from its position within an established retail corridor surrounded by more than 2 million square feet of retail and daily-needs destinations within a 2-mile radius.
The branch maintains strong deposit performance with approximately $185 million in deposits as of 2025, demonstrating the location's importance within Citizens Bank's regional footprint. The property is situated near major regional hospitals and educational institutions that generate consistent daytime population and economic activity.
Investment highlights
- High-performing branch location | Approx. $185M in deposits demonstrating the branch's importance within Citizens Bank's regional footprint
- Absolute Net lease | Zero Landlord responsibilities
- Corporate lease | Citizens Bank, N.A. | One of the nation's largest financial institutions with approx. 1,000 branches across the U.S. | BBB+ / Baa1 investment-grade credit
- Proven tenant commitment | Operating at this location since 2007 and recently executed a 7-year lease extension in 2025, reinforcing longterm confidence in the site
- Rare annual rent growth | 2.5% fixed annual rent increases provide a built-in hedge against inflation and enhance long-term cash flow growth
- Excellent visibility and accessibility | Prominent frontage along Perry Highway | 32,000+ VPD | Primary retail corridor serving affluent surrounding North Pittsburg suburbs
- Affluent surrounding area | $210,361 average household income within a 3-mile radius
- Strong population fundamentals | Nearly 89,000 residents within 5 miles and population growth of 16.84% since 2010
- Established retail trade area | Surrounded by more than 2M SF of retail and daily-needs destinations within a 2-mile radius
- Healthcare and education drivers nearby | Minutes from major regional hospitals and educational institutions that generate consistent daytime population and economic activity
- Nearby Destination Retailers | Target, ALDI, Trader Joe's, Whole Foods, Lowe's, HomeGoods, LongHorn Steakhouse, Texas Roadhouse, First Watch, Chick-fil-A, Starbucks, McDonald's, KFC, Sheetz, 7-Eleven, and an abundance of others
- Strategic Pittsburgh suburb | Located approx. 20 minutes north of downtown Pittsburgh in one of the region's most desirable residential and commercial submarkets
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