PNC Bank
Baskersfield, CA
PNC offers a wide range of services for all our customers, from individuals and small businesses, to corporations and government entities. No matter how simple or complicated your needs, we’re sure to have the products, knowledge and resources necessary for financial success.
As of June 30, 2018, the company had $279 billion of assets under administration, serving our clients from nearly 90 offices in 17 states and the District of Columbia.
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S&P Outlook: Stable
Moody Outlook: Stable
Typical Lease Characteristics
Lease Term: 10 – 20 Years Years
Lease Type: Absolute NNN Lease
Lease Increases: 10% Every 5 years
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate
Tenant Overview
PNC (NYSE: PNC) is one of the 10 largest banks in the U.S., with $380 billion in assets. Given its strong credit rating and history, this tenant makes for a good investment under the right cirumstances.
As with other strong banking tenants, these investments remain very safe and stable. The continuing pressures from online banking however do pose some uncertanty in the long term. Special consideration must be given to the number and total value of maintained accounts within the indivual branch.
Positives:
- Public Company, Credit Rated
- Typically located in high traffic locations
- Typically Long term leases with increases
Negatives:
- Long term effects and pressures of online banking remain to be seen
- Typically low cap rate
Market Snapshots:
On Market Ranges:
# of Properties in set: 11
Price: $1,611,880 - $2,080,460Average: $1,874,284
PPSF: $410 - $530Average: $455
Year Built: 1957 - 2012Average: 1996
CAP Rate Range: 4.98% - 6.22%Average: 5.66%
Size range: 1,812 sq ft - 7,000 sq ft Average: 3,991 sq ft
Last 12 Month Range:
# of Properties in set: 11
Price: $1,901,660 - $2,580,820Average: $2,263,880
PPSF: $358 - $451Average: $389
Year Built: 1957 - 2005Average: 1998
CAP Rate Range: 4.87% - 6.70%Average: 5.73%
Size range: 2,500 sq ft - 35,000 sq ft Average: 6,615 sq ft
PNC Bank Similar Tenants
PNC Bank Stock Keys
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