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Home , PNC Financial Services

CORPORATE GROUND LEASE

Subject Property Photo

10 ANCHOR DRIVE | ,

PAUL BONANNO ERIK SJOLUND (760) 452-2402 (310) 663-8164 [email protected] [email protected]

SEARCH OUR CURRENT INVENTORY @

216 N. Coast Hwy 101, Encinitas, CA 92024 www.NNNsearch.com OFFERING OVERVIEW

​Net Lease Realty Partners is excited to present the rare opportunity to acquire the fee simple interest in a corporate ground leased PNC site, built in 2007. The subject property is well situated as an outparcel to a Target anchored Shopping Center in the affluent Harmar Heights suburb, approximately 12-miles Northeast of , Pennsylvania. This specific PNC branch boasts strong annual deposits, which were $136,419,000 in 2018 per the FDIC.

The property is on a ground lease through April 30th, 2028 to PNC Inc. at which point the tenant, has five additional (5) year option periods to extend the lease. The lease obligates the landlord to zero responsibilities of the improvement, making a perfect investment for a passive real estate investor. Rental increases of 10% are applied every five years, offering an investor a strong hedge against inflation. Subject Property Drive-Thru INVESTMENT HIGHLIGHTS

PNC Corporate Ground Lease – The subject property is on a ground lease to the PNC Bank corporation, which offers zero landlord responsibilities.

Very Strong Branch Deposits – Per information obtained from the FDIC, this location boasted stronger then average national deposits of $136,419,000 in 2018 at the subject branch. PRICE: $ 2,575,000 Approximately 2-miles from Oakmont Country Club- Since it’s construction in 1903, Oakmont County has been home to the PGA’s U.S. NOI: Open Championship 9 times, most recently in 2016 when Dustin $ 151,250 / Year Johnson won the tournament with an overall score of 276 (-4 under Par).

Out-Parcel to Busy Target Anchored Shopping Center – The site well Cap Rate: 5.87% located outparceled to a Target Shopping Center. The property is located in a busy retail corridor, other near by retailers include Express, Target, Wendy’s, Denny’s, Dunkin Donuts, McDonald’s, Bob Evans, Marathon Gas, KFC, Burger King, Days Inn, Hampton Inn and more. SITE ADDRESS: 10 Anchor Drive Pittsburgh, Pennsylvania PRICE: $ 2,575,000 CAP RATE: 5.87% NET INCOME (NOI): $ 151,250 / YEAR

Gross Leasable Area (GLA): 2,958 SQFT Lot Size: 0.816 ACRES *File Photo Year Built: 2008 Ownership Type: Fee Simple

Tenant Trade Name: PNC Bank Signing Entity Name: PNC Financial Services Group, Inc. ORIGINAL LEASE: $ 151,250 Lease Type: Absolute Ground Lease COE – April 30, 2023 Original Lease Term: 20 Years May 1, 2023 - April 30, 2028 $ 166,375 Rent Commencement: May 1, 2008 Lease Expiration: April 30, 2028 OPTIONS: Remaining Lease Term: +/- 9 Years OPTION 1 $ 183,012 OPTION 2 $ 201,314 Rental Increases: 10% Every 5 Years Tenant Options: (5) X 5 Year Options OPTION 3 $ 221,445 Right of First Refusal: Yes OPTION 4 $ 243,589 OPTION 5 $ 267,948 CORPORATE OFFICE LOCAL DEMOGRAPHICS: 1-Mile | 3-Mile | 5-Mile Population: 1,447 29,385 84,422

AHHI: $107,272 $95,973 $88,060

Freeport Rd: 20,600+ ADT Route 910: 17,825+ ADT Penn Turnpike: 40,150+ ADT ±2-Miles

HEINZ FIELD HOME TO NFL’S

±31-Miles

±13-Miles

OAKMONT COUNTRY CLUB 10 TIME HOME TO PGA’S U.S. OPEN

PITTSBURGH INTERNATIONAL AIRPORT PNC Financial Services Group, Inc. (stylized as PNC) is a bank holding BlackRock company and financial services corporation based in Pittsburgh, Pennsylvania. PNC holds a minority ownership stake in Its bank operates in 19 states and the District of Columbia with 2,459 branches BlackRock, one of the largest publicly traded and 9,051 ATMs. The company also provides financial services such as asset investment management firms in the country. management, , estate planning, loan servicing, and BlackRock works on behalf of institutional and information processing. individual investors worldwide through a variety of equity, fixed income, liquidity and alternative PNC is ranked 8th on the list of largest in the by assets. It is investment products. In addition, it provides risk the 5th largest bank by number of branches, 6th largest by deposits, and 4th management, investment system , largest in number of ATMs. The name "PNC" is derived from the initials of both of and financial advisory services to a growing the bank's two predecessor companies: Pittsburgh National Corporation and number of institutional investors. Provident National Corporation, which merged in 1983. PITTSBURGH, PENNSYLVANIA

Pittsburgh is a city in the Commonwealth of Pennsylvania and is the county seat of Allegheny County. As of 2017, a population of 305,704 lives within the city limits, making it the 63rd-largest city in the U.S. The metropolitan population of 2,353,045 is the largest in both the Valley and Appalachia, the second-largest in Pennsylvania (behind ), and the 26th-largest in the U.S.

Pittsburgh is known both as "the Steel City" for its more than 300 steel-related businesses and as the "City of Bridges" for its 446 bridges. The city features 30 skyscrapers, two inclined railways, a pre-revolutionary fortification and the Point State Park at the confluence of the rivers. The city developed as a vital link of the Atlantic coast and Midwest, as the mineral-rich Allegheny Mountains made the area coveted by the French and British empires, Virginians, Whiskey Rebels, and Civil War raiders.

Aside from steel, Pittsburgh has led in manufacturing of aluminum, glass, shipbuilding, petroleum, foods, sports, transportation, computing, autos, and electronics. For part of the 20th century, Pittsburgh was behind only and Chicago in corporate headquarters employment; it had the most U.S. stockholders per capita. America's 1980s deindustrialization laid off area blue-collar workers and thousands of downtown white-collar workers when the longtime Pittsburgh-based world headquarters moved out. This heritage left the area with renowned museums, medical centers, parks, research centers, and a diverse cultural district.

Today, , Apple Inc., Bosch, Facebook, Uber, Nokia, Autodesk, Microsoft and IBM are among 1,600 technology firms generating $20.7 billion in annual Pittsburgh payrolls. The area has served as the long-time federal agency headquarters for cyber defense, software engineering, robotics, energy research and the nuclear navy. The area is home to 68 colleges and universities, including research and development leaders Carnegie Mellon University and the University of Pittsburgh. The nation's eighth-largest bank, eight companies, and six of the top 300 U.S. law firms make their global headquarters in the area, while RAND, BNY Mellon, Nova, FedEx, Bayer and NIOSH have regional bases that helped Pittsburgh become the sixth-best area for U.S. job growth.

In 2015, Pittsburgh was listed among the "eleven most livable cities in the world"; The Economist's Global Liveability Ranking placed Pittsburgh as the first- or second-most livable city in the United States in 2005, 2009, 2011, 2012 and 2014. The region is a hub for Leadership in Energy and Environmental Design and energy extraction.

In 2019, Pittsburgh was deemed “Food City of the Year” by the San Francisco-based restaurant and hospitality consulting firm af&co. Many restaurants were mentioned favorable, among them were Superior Motors in Braddock, Driftwood Oven in Lawrenceville, Spork in Bloomfield, Fish nor Fowl in Garfield and Bitter Ends Garden & Luncheonette in Bloomfield. PITTSBURGH, PENNSYLVANIA PITTSBURGH, PENNSYLVANIA PITTSBURGH, PENNSYLVANIA