Pnc Bank | 4 Reynolds Avenue, Toledo, Oh 43615 for Sale | Free-Standing Nnn Investment

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Pnc Bank | 4 Reynolds Avenue, Toledo, Oh 43615 for Sale | Free-Standing Nnn Investment OFFERING MEMORANDUM VPD 24,300 - AVE REYNOLDS N HILL AVE - 13,200 VPD S REYNOLDS AVE REYNOLDS S N PNC BANK | 4 REYNOLDS AVENUE, TOLEDO, OH 43615 FOR SALE | FREE-STANDING NNN INVESTMENT JOSEPH KHOURI CBRE, INC. First Vice President 950 Main Avenue, Suite 200 +1 216 658 6120 Cleveland, OH 44113 [email protected] +1 216 687 1800 AFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT CBRE, Inc. operates within a global family of companies with many subsidiaries and/or These summaries do not purport to be complete nor necessarily accurate descriptions of the related entities (each an “Affiliate”) engaging in a broad range of commercial real estate full agreements referenced. Interested parties are expected to review all such summaries and businesses including, but not limited to, brokerage services, property and facilities other documents of whatever nature independently and not rely on the contents of this management, valuation, investment fund management and development. At times different Memorandum in any manner. Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or or Trammell Crow Company. Those, or other, Affiliates may express an interest in the representatives make any representation or warranty, expressed or implied, as to the property described in this Memorandum (the “Property”) may submit an offer to purchase the accuracy or completeness of this Memorandum or any of its contents, and no legal Property and may be the successful bidder for the Property. You hereby acknowledge that commitment or obligation shall arise by reason of your receipt of this Memorandum or use of possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation its contents; and you are to rely solely on your investigations and inspections of the Property to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In in evaluating a possible purchase of the real property. all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or of interest or offers to purchase the Property, and/or to terminate discussions with any entity prospective offeror, but rather will conduct its business in a manner consistent with the law at any time with or without notice which may arise as a result of review of this Memorandum. and any fiduciary duties owed to the client(s) it represents in the transaction described in this The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum. Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and This is a confidential Memorandum intended solely for your limited use and benefit in approved by the Owner and any conditions to the Owner’s obligations therein have been determining whether you desire to express further interest in the acquisition of the Property. satisfied or waived. This Memorandum contains selected information pertaining to the Property and does not By receipt of this Memorandum, you agree that this Memorandum and its contents are of a purport to be a representation of the state of affairs of the Property or the owner of the confidential nature, that you will hold and treat it in the strictest confidence and that you will Property (the “Owner”), to be all-inclusive or to contain all or part of the information which not disclose this Memorandum or any of its contents to any other entity without the prior prospective investors may require to evaluate a purchase of real property. All financial written authorization of the Owner or CBRE, Inc. You also agree that you will not use this projections and information are provided for general reference purposes only and are based Memorandum or any of its contents in any manner detrimental to the interest of the Owner on assumptions relating to the general economy, market conditions, competition and other or CBRE, Inc. factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material If after reviewing this Memorandum, you have no further interest in purchasing the Property, variation. All references to acreages, square footages, and other measurements are kindly return this Memorandum to CBRE, Inc. approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. © 2020 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and com- pleteness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. ouY and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. PNC BANK 4 REYNOLDS AVENUE TOLEDO, OH 43615 TABLE OF CONTENTS Executive Summary Property Overview | Lease Summary Tenant Profile Market Overview CONTACT US Joseph Khouri First Vice President +1 216 658 6120 [email protected] CBRE, Inc. 950 Main Avenue, Suite 200 Cleveland, OH 44113 +1 216 687 1800 FOR SALE | PNC BANK FREE-STANDING NNN INVESTMENT EXECUTIVE SUMMARY PNC BANK 4 REYNOLDS AVENUE TOLEDO, OH 43615 INVESTMENT HIGHLIGHTS INVESTMENT SUMMARY 4 REYNOLDS AVENUE, TOLEDO, OH 43615 CBRE presents qualified investors the opportunity to acquire Offering Price ............................................... $988,000 a free-standing 2,900 square foot building situated on a Net Operating Income (Base Rent) .................. $71,625 0.72 acre parcel of land, 100% leased to PNC Bank with Cap Rate .......................................................... 7.25% 4+ years of lease term remaining. The current lease term expires on September 30th, 2024. Lease Type .......................................................... NNN Current Lease Expiration .............................. 9/30/2024 The listing price has just been reduced from $1,023,000 down to $988,000. Price PSF ....................................................... $341.00 Total Building Area ........................................ 2,900 SF This branch location has an operating history of over 40+ Years, with currently $27,890,000 in branch deposits (June Total Land Area ........................................... 0.72 Acres 2019). The property is located at the hard corner, signalized intersection of Reynolds Avenue (with 24,300 VPD) and Hill Avenue (with 13,200). This offering provides an investor with the ability to acquire the fee simple interest (building and land) an Absolute NNN lease, with minor Landlord obligations under the lease. EXECUTIVE SUMMARY PNC BANK 4 REYNOLDS AVENUE TOLEDO, OH 43615 PNC BANK 4 REYNOLDS AVENUE TOLEDO, OH 43615 INVESTMENT HIGHLIGHTS + 4 years remaining on a Absolute Triple Net Corporate + The property is located 3 miles from the University of Lease backed by PNC Bank Toledo with over 20,380+ enrollment + Located at the signalized hard corner of Hill Avenue + 7,890 Million in Branch Deposits (as of June 2019) and N Reynolds Road with daily traffic counts of + 41+ Year history of operation at this branch, with 37,000+ VPD opening date 3/27/1978 + Area retailers include, McDonald’s, Burger King, Dollar + Bank Number: 2293 - Reynolds-Hill Branch Tree, Save-a-Lot, Taco Bell and more! www.cbre.us/cleveland PNC BANK 4 REYNOLDS AVENUE TOLEDO, OH 43615 WHY TOLEDO? Detroit TOLEDO LOCAL ECONOMY (1 hr.) MAJOR EMPLOYERS - 6th largest MSA in the state of Ohio & the largest area between Cleveland Detroit Metro Airport (45 mins.) and Detroit. Chicago - GDP: $38 B in 2017 (4 hrs.) - 3rd in US for economic development among mid-size cities for the third year (14,465) (8,827) (6,662) in a row. (Source: Site Selection) - In a 17 country region, businesses created 4,000 new jobs while investing Toledo Express Airport $4 B into their operations. (15 mins. from CBD) Cleveland - 14th best migration of Millennials in region. (Source: Smart Asset) (2 hrs.) (6,159) - 400% growth in investment in 2017. (Source: 2017 Regional Growth Partnership
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