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Bank

S&T Bank | 15 Years Remain | Pittsburgh, PA MSA | "BBB" Investment-Grade Credit

PA-228 & Franklin Road, Cranberry Twp, PA 16066

Listing Price: $2,900,000

Cap Rate
5.00%
Tenant Name
S&T Bank
Years Remaining On Lease
14.8
Guarantor
Corporate Guarantee
Rentable SF
2,545
Lease Type
NNN Ground Lease
Rent Per Square Feet
$56.97

Investment Overview

The Tenant, S&T Bank, is subject to a new 15-year NNN ground lease with 10 percent (10%) rental increases every five years, providing a hedge against inflation. S&T Bank has a credit rating of “BBB” by Standard & Poor’s, and is publicly traded on the NASDAQ under the ticker "STBA.” It is based in nearby Indiana, Pennsylvania, about 60 miles east of Pittsburgh. S&T is the 10th-largest bank by deposit market share in the 10-county metro where it operates 35 branches, almost half its footprint-wide total. It has $9.2 billion in total assets and operates in approximately 75 locations across Pennsylvania and Ohio.

Investment Highlights

  • 15-Year Ground Lease with 10% Increases Every Five Years
  • Relocation of Existing Branch Two Miles Away
  • Regional Retail Location Anchored by Target and Walmart Supercenter

Broker of Record

  • Timothy B. Stephenson Jr.

    Associate Regional Manager

    (215) 531-7000

    License(s) PA: RMR006104

    Pennsylvania

Financing By

Bank

S&T Bank | 15 Years Remain | Pittsburgh, PA MSA | "BBB" Investment-Grade Credit

Listing Price: $2,900,000

Cap Rate
5.00%
Tenant Name
S&T Bank
Years Remaining On Lease
14.8
Guarantor
Corporate Guarantee
Rentable SF
2,545
Lease Type
NNN Ground Lease
Rent Per Square Feet
$56.97

Investment Highlights

  • 15-Year Ground Lease with 10% Increases Every Five Years
  • Relocation of Existing Branch Two Miles Away
  • Regional Retail Location Anchored by Target and Walmart Supercenter

Investment Overview

The Tenant, S&T Bank, is subject to a new 15-year NNN ground lease with 10 percent (10%) rental increases every five years, providing a hedge against inflation. S&T Bank has a credit rating of “BBB” by Standard & Poor’s, and is publicly traded on the NASDAQ under the ticker "STBA.” It is based in nearby Indiana, Pennsylvania, about 60 miles east of Pittsburgh. S&T is the 10th-largest bank by deposit market share in the 10-county metro where it operates 35 branches, almost half its footprint-wide total. It has $9.2 billion in total assets and operates in approximately 75 locations across Pennsylvania and Ohio.

Broker of Record

  • Timothy B. Stephenson Jr.

    Associate Regional Manager

    (215) 531-7000

    License(s): PA: RMR006104

    Pennsylvania

Financing By

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