Penn Community Bank | Modified NNN Lease

Equity Retail Brokers is pleased to exclusively offer for sale a single-tenant, net leased Penn Community Bank branch in Lansdale, Montgomery County, PA. Penn Community Bank has 6.5 years remaining on a new 10-year lease with three (3), 5-year renewal options. This deal features a modified NNN lease, leaving the landlord with minimal responsibilities of the roof and structure, while all other operating, maintaining, or capital expenses related to the property are the tenant’s responsibility.

The lease is backed by a corporate guarantee from Penn Community Bank, which was established over 150 years ago. The bank has since grown to become the largest independent mutual bank in eastern Pennsylvania with $2.5+ billion in assets, 300+ employees, and 25+ banking centers.

Located about 3 miles west of downtown Lansdale Borough, the subject property sits on the signalized intersection of Forty Foot Rd & Allentown Rd which sees approximately 35,844 ADT. Additionally, this property is located about 2 miles northeast of the Lansdale Interchange on the PA Turnpike’s Northeast Extension, running to/from Plymouth Meeting and Scranton. This approximately 1.17-acre corner property is amongst the major retailers in the market, with a Whole Foods anchored lifestyle center immediately across the street. Accompanying Whole Foods are retailers such as Planet Fitness, Verizon, Mattress Warehouse, Chipotle, Wendy’s, AT&T, Panera Bread, and Wells Fargo with a proposed Target in the rear. Additionally, about ¼ mile up Forty Foot Rd are retailers such as Firestone, Chick-Fil-A, Freddy’s, super Wawa, Univest Bank, Lowe’s, ShopRite, and PJ Whelihan’s. Across the street from the Lowe’s is Ralph’s Corner Shopping Center – a Kohl’s & Ross anchored shopping center with a tenant lineup including Aldi, PA State Liquor store, The UPS Store, and others, with CVS, Applebee’s, Citadel Credit Union, and McDonald’s as pad sites.

Strong Tenant

• Tenant: Penn Community Bank
• Corporate Guarantee
• $2.5+ billion in assets
• 300+ employees
• 25+ banking centers

Stable Income:

• Successful Branch – Deposits have significantly increased since the branch’s inception in 2021
• 6.5 years of base term remaining
• Three (3) five-year options to extend
• Modified NNN Lease – Landlord responsible for roof and structure

Strong Retail Location:

• Located on a signalized intersection Traffic Count:
  • Forty Foot Rd: 22,622 ADT
  • Allentown Rd: 13,222 ADT