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PNC Bank 2561 N University Dr 4,212 SF Retail Building Coral Springs, FL 33065 $7,026,637 CAD ($1,668.24 CAD/SF) 6.15% Cap Rate
Investment Highlights
- POSITIONED IN CENTRAL BUSINESS DISTRICT
- STRONG DEMOGRAPHICS
- ATTRACTIVE LEASE FUNDAMENTALS
Executive Summary
- 12% rent increase every 5 years and during option periods
- Absolute NNN Ground lease providing no Landlord Responsibilities
- four (4) - Five (5) year option periods
INVESTMENT GRADE TENANT
- Corporate Guaranty from Investment Grade Tenant - PNC Financial Services Group Inc has a Market Cap of $77.3B (NASDAQ: PNC) with over 2,600 locations across the country
- S&P rating of A
LOCATED IN HIGH GROWTH RETAIL NODE
- Over 1.4M SF of Retail Space located in a 1-mile radius, boasting a vacancy rate of under 6%
- Nearby National Retail Tenants include: Publix Supermarket, Michaels, Pet Supermarket, Total Wine, and more
- Nearby shopping centers include: The Royal University Plaza, University Palms Square, Coral Palm Plaza, The Walk at University, and more
POSITIONED IN CENTRAL BUSINESS DISTRICT
- This site is located in the Central Business District of Coral Springs, FL which has seen an influx of recent development
- This area includes: “The Walk” - a shopping and entertainment center with all types of retail
- “Cornerstone Downtown” - a mixed use Office Space, Residential Space, retail space
- “City Village” - plans for a grocer, restaurants, entertainment, and other retail
STRONG DEMOGRAPHICS
- Within a 5-mile radius of the site are more than 365K people and over 54K households
- The AHHI within a 3-mile radius of the PNC Bank is over $114k providing a dense customer base for the bank branch
LARGE DEPOSIT BRANCH - FILLING A VOID
- This Location has over $77M dollars in deposits showing the local demand
- This PNC Bank is the only location in Coral Springs, FL which fills a void for the PNC company
Property Facts
Sustainability
Sustainability
LEED Certification Developed by the U.S. Green Building Council (USGBC), the Leadership in Energy and Environmental Design (LEED) is a green building certification program focused on the design, construction, operation, and maintenance of green buildings, homes, and neighborhoods, which aims to help building owners and operators be environmentally responsible and use resources efficiently. LEED certification is a globally recognized symbol of sustainability achievement and leadership. To achieve LEED certification, a project earns points by adhering to prerequisites and credits that address carbon, energy, water, waste, transportation, materials, health and indoor environmental quality. Projects go through a verification and review process and are awarded points that correspond to a level of LEED certification: Platinum (80+ points) Gold (60-79 points) Silver (50-59 points) Certified (40-49 points)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Finance and Insurance
- 4,212 SF
- -
- Triple Net
- -
PNC Bank has origins dating back to 1852 with the founding of Pittsburgh Trust and Savings Company. It became PNC Financial Corporation in 1983 through a merger. The company has since grown through various mergers and acquisitions. PNC Bank operates as a diversified financial institution offering services like retail banking, corporate banking, and wealth management. It serves millions of customers and has a significant presence in many U.S. markets.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Finance and Insurance | 4,212 SF | - | Triple Net | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 48-41-21-02-1870 | Improvements Assessment | $2,181,607 CAD |
| Land Assessment | $1,964,752 CAD | Total Assessment | $4,146,359 CAD |
Property Taxes
Presented by
PNC Bank | 2561 N University Dr
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