Citizens Bank Absolute NNN Bank Asset Philadelphia Pennsylvania

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Investment Offering

Tenant: Citizens Bank | Philadelphia, PA
Premises: 3,507 SF
Renewal Options: 2 x 5 Year Options (At Market Rent)

Lease Expiration: 06/30/2030
Lease Type: Absolute NNN
Rental Increases: 2.5% Annually

Sands Investment Group is Pleased to Present Exclusively For Sale a 3,507 SF Citizens Bank Absolute NNN Asset in a Prime Location in Philadelphia, PA. Citizens Bank is an A-Credit Rated Tenant and Their Absolute NNN Lease Was Recently Extended through June of 2030, With a 2.5% Rent Increase in Each Year. This Citizens Bank Branch Has Operated For Over 17 Years and Boasts an Impressive Deposit Base in Excess of $108 Million Dollars. It’s Location in a Highly-Dense Area of Philadelphia Features Rents in Line With Other Local Retailers, Providing For a Sound Investment.

Citizens Bank Has an A- Credit Rating From S&P
Deposits in Excess of $108MM, One (1) of Only Four (4) Bank Branches in Northeast Philadelphia With Deposits Over $100MM
Citizens Bank Has Been the Tenant Since 2007 and Recently Exercised a 5-Year Option, Showing a Commitment to the Site
The Absolute NNN Lease is Attractive For a 1031 Exchange Buyer
The Rent is in Line With Other National Retailers in the Area, Proving to Be Replaceable
High-Density Walkable Location With a Growing Population of Seniors in the Immediate Area

In Cooperation With Sands Investment Group Philadelphia, LLC – Lic. #RB069072 BoR: Tom Gorman Lic. PA #RM424383

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Tenant Overview

CITIZENS BANK

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $219.9 billion in assets as of June 30th, 2024. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and more than 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings.

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