Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a PNC ground lease in Glendale, Arizona. The property consists of a 3,466-square-foot, freestanding building that sits on approximately 1 acre of land. There is less than one year remaining on the current lease term. Although PNC Bank is vacating the premise at the end of the lease term, they are still obligated for approximately $213,514 in future rent obligations. At the asking price, an investor should be able to lower their basis in the property, recapturing a percentage of their initial investment over the remaining lease term. The property has excellent access and visibility on W Bell Road (39,229 VPD)—a major retail corridor. The area is extremely dense with more than 351,443 residents within a five-mile radius.