Press Releases
Marcus & Millichap Arranges Sale of New PNC Bank in San Antonio
August 27, 2026
SAN ANTONIO, Aug. 26, 2026 — Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a newly constructed PNC Bank ground lease property.
“Our team has closed three PNC Bank transactions since June, including two in San Antonio, reflecting continued investor demand for newly constructed, long-term net-leased bank properties,” said Vincent Knipp, senior managing director investments. “Stone Oak remains one of the city's strongest retail corridors, with established consumer demand and continued mixed-use development supporting long-term investment fundamentals.”
Knipp, Ryan Wolf and Jonathan Neve, investment specialists in Marcus & Millichap's Dallas office, exclusively marketed the property on behalf of the seller, a Texas-based developer, and procured the buyer, a private investor.
The property is located at 23234 U.S. Highway 281. Scheduled for completion in 2026, the 2,961-square-foot PNC Bank branch will be developed on 1.12 acres and is secured by a new 20-year ground lease featuring 10% rent increases every five years. The property is an outparcel to Sam's Club within the Stone Oak trade area, where continued residential, multifamily and mixed-use development is supporting long-term growth.
“Our team has closed three PNC Bank transactions since June, including two in San Antonio, reflecting continued investor demand for newly constructed, long-term net-leased bank properties,” said Vincent Knipp, senior managing director investments. “Stone Oak remains one of the city's strongest retail corridors, with established consumer demand and continued mixed-use development supporting long-term investment fundamentals.”
Knipp, Ryan Wolf and Jonathan Neve, investment specialists in Marcus & Millichap's Dallas office, exclusively marketed the property on behalf of the seller, a Texas-based developer, and procured the buyer, a private investor.
The property is located at 23234 U.S. Highway 281. Scheduled for completion in 2026, the 2,961-square-foot PNC Bank branch will be developed on 1.12 acres and is secured by a new 20-year ground lease featuring 10% rent increases every five years. The property is an outparcel to Sam's Club within the Stone Oak trade area, where continued residential, multifamily and mixed-use development is supporting long-term growth.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
