5110 LIBRARY RD Bethel Park PA 15102-2987

Notably, the Property was fully renovated and repositioned in 2016, which included a complete shell remodel, parking reconfiguration, HVAC upgrades, and the addition of a drive-thru lane. Further, the cash flow is solidified by investment-grade tenants Starbucks (S&P “BBB+”) and PNC Bank (S&P “A”), which back 85% of the NOI.​ The leases provide an attractively hands-off investment with 10-12% rent increases every 5 years and a weighted average lease term remaining of ±6.7 years.​ After the consolidation and relocation of two bank branches, the Property is further strengthened by a new 10-year lease with Pittsburgh-based PNC Bank, the 5th-largest bank in the US, and the largest bank branch by deposit base in Bethel Park ($296 million).​ The offering presents a unique opportunity to acquire a low-maintenance asset with financially sound cash flows secured for several years to come.​

The Property is prominently located on US Route 88 / Library Rd, which carries approximately 15,000 vehicles per day (VPD).​ Its high-visibility location sits centrally within the primary retail corridor of Bethel Park, an affluent Pittsburgh suburb.​ Directly across from the subject Property is Bethel Park Shopping Center, anchored by Walmart and Giant Eagle, with surrounding tenancy including Advance Auto Parts, Pep Boys, Rite Aid, Wendy’s, Firestone, KFC, and more.​ The immediate 3-mile radius is home to 83,000+ people, with an average annual household income of over $106,000.​

• Investment-grade tenancy backed by 85% of NOI: Starbucks Drive-Thru (S&P Rating: “BBB+”) and PNC Bank (S&P Rating: “A”)
• Property is leased on a triple net (NNN) Basis with an average of 6.7 years remaining, strengthened by a new 10-year lease with Pittsburgh-based PNC Bank, the 5th largest bank in the US, and the largest bank branch by deposit base in Bethel Park ($296 million)
• Excellent visibility and access from Bethel Park’s main retail corridor, Route 88 / Library Rd, carrying approximately 15,000 VPD
• Situated in a populated and affluent area with an average annual household income of over $106,000 in a 3-mile radius