Bank For Sale in Delaware County
Citizens Bank | Philadelphia MSA
Citizens Bank is nearing the end of their 9th year of their initial 20-year lease at this site, leaving over 10 years remaining on their absolute NNN ground lease. This lease type allows for very favorable landlord conditions, having no responsibilities for operating or maintaining, or capital expenses related to the property. The remainder of this lease includes 15% rental increases every 5 years, with the next increase on November 1, 2020. These increases continue through each of the two (2) additional 5-year options remaining. The lease is backed by a corporate guarantee from Citizens Financial Group, a publicly traded company headquartered in Providence, RI (NYSE: CFG).
The subject property sits about ¼ mile from the intersection of Route 1 & 202 (Baltimore Pike & Wilmington West Chester Pike) – one of, if not the, busiest intersections in all of Pennsylvania with over 93,000 ADT! With over 48,000 ADT on Route 1, and over 45,000 ADT on Route 202, this corridor makes for one of the heaviest trafficked markets in PA. With Chick-Fil-A and Texas Roadhouse immediately adjacent, this branch gets a number of visitors during the lunch and dinner rush hours. On top of those restaurants, the property is surrounded by other major retailers such as Wegmans, Whole Foods, Costco, Wells Fargo (multiple branches), Acme, Target, Anthropologie, and many more, making for a very dense retail corridor. Just across the street and behind the Concordville Town Center, sits Maris Grove – an Erickson Living senior living community. Since opening in 2006, Maris Grove has expanded to 1,277 independent living apartments, and over 1,600 active residents on 87 acres!
CVS Pharmacy | Aston, PA
Offered for sale to qualified investors is the rare opportunity to acquire a premium property with an investment grade tenant that sits on the corner of Pennell Road (PA-452) and Lehr Boulevard in Aston, Pennsylvania.
Located in Delaware County, within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA.
The offering features a free-standing, +/- 12,150 SF building on AC, with two drive-thru lanes and an on-site Santander Bank ATM.
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