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Bank

Citizens Bank (S&P A- Rating)

850 Penn Ave Ext, Turtle Creek (Pittsburgh), PA 15145

Listing Price: $1,768,000

Cap Rate
7.00%
Tenant Name
Citizens Bank, N.A. (S&P A-)
Years Remaining On Lease
3.6
Guarantor
Corporate Guarantee
Rentable SF
10,522
Lease Type
Absolute Net
Rent Per Square Feet
$11.76

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
  • Two and a Half Percent Annual Rental Increases
  • 206,893 Residents within a Five-Mile Radius - Pittsburgh MSA
  • Signalized Hard Corner Location at the Intersection of Penn Avenue and Grant Street

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Bank

Citizens Bank (S&P A- Rating)

Listing Price: $1,768,000

Cap Rate
7.00%
Tenant Name
Citizens Bank, N.A. (S&P A-)
Years Remaining On Lease
3.6
Guarantor
Corporate Guarantee
Rentable SF
10,522
Lease Type
Absolute Net
Rent Per Square Feet
$11.76

Investment Highlights

  • Absolute Triple-Net (NNN) Corporate Lease with Citizens Bank, N.A. (S&P A-)
  • Four Years Remaining on Lease Term
  • Two and a Half Percent Annual Rental Increases
  • 206,893 Residents within a Five-Mile Radius - Pittsburgh MSA
  • Signalized Hard Corner Location at the Intersection of Penn Avenue and Grant Street

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.

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

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