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Bank

Citizens Bank (S&P A- Rating)

6555 Pearl Rd, Parma Heights (Cleveland), OH 44130

Listing Price: $1,314,000

Cap Rate
7.00%
Tenant Name
Citizens Bank, N.A. (S&P A-)
Years Remaining On Lease
4.0
Guarantor
Corporate Guarantee
Rentable SF
3,200
Lease Type
Absolute Net
Rent Per Square Feet
$28.74

Investment Overview

Citizens Financial Group, Inc. (NYSE: CFG), founded in 1828, is one of the nation’s oldest and largest financial institutions, with $179.9 billion in assets, $143.6 billion in deposits, 1,000 branch locations, and 2,700 ATMs as of June 30, 2020. The Company is headquartered in Providence, Rhode Island and has operations in 13 U.S. states.

Investment Highlights

  • Absolute Triple-Net (NNN) Corporate Lease with Citizens Bank, N.A. (S&P A-)
  • Four Years Remaining on Lease Term
  • One Percent Annual Rental Increases
  • 244,489 Residents within a Five-Mile Radius - Cleveland MSA
  • Excellent Visibility Along Pearl Road - 19,725 Cars Per Day

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Listing Price: $1,314,000

Cap Rate
7.00%
Tenant Name
Citizens Bank, N.A. (S&P A-)
Years Remaining On Lease
4.0
Guarantor
Corporate Guarantee
Rentable SF
3,200
Lease Type
Absolute Net
Rent Per Square Feet
$28.74

Investment Highlights

  • Absolute Triple-Net (NNN) Corporate Lease with Citizens Bank, N.A. (S&P A-)
  • Four Years Remaining on Lease Term
  • One Percent Annual Rental Increases
  • 244,489 Residents within a Five-Mile Radius - Cleveland MSA
  • Excellent Visibility Along Pearl Road - 19,725 Cars Per Day

Investment Overview

Citizens Financial Group, Inc. (NYSE: CFG), founded in 1828, is one of the nation’s oldest and largest financial institutions, with $179.9 billion in assets, $143.6 billion in deposits, 1,000 branch locations, and 2,700 ATMs as of June 30, 2020. The Company is headquartered in Providence, Rhode Island and has operations in 13 U.S. states.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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