Plymouth Meeting, PA, March 13, 2024 – Ken Yanni and Edward Ginn of Equity Retail Brokers recently facilitated the sale of a PNC Bank branch in Pittsburgh, PA.
Through Equity’s marketing process, Yanni and Ginn secured multiple compelling offers on the asset. The property, known for its longstanding association with PNC Bank, was ultimately acquired by a private investor from out-of-state, showcasing the broad appeal generated by the marketing efforts led by Equity Retail Brokers.
The property, which has over two decades of successful operation as a PNC Bank branch, boasts an impressive track record with close to $300 million in deposits. Occupied by PNC Bank under a long-term absolute triple net lease (NNN), the tenant’s exceptional credit profile, attractive price point, and outstanding performance were key factors that captured the attention of numerous private investors.
Yanni commented on the transaction, stating, “This property garnered attention from many private investors due to the credit profile of the tenant, price point, and strong performance of the branch. We are seeing strong interest from this buyer group on deals in the sub-$3,000,000 range.”
Equity Retail Brokers continues to solidify its reputation as a trusted partner in commercial real estate transactions, providing unparalleled expertise and delivering successful outcomes for its clients.
If you would like more information, please contact Ken Yanni at 610.645.7700 x123, kyanni@equityretailbrokers.com, or Edward Ginn at 610.645.7700 x101, eginn@equityretailbrokers.com.