Farmington Hills, Michigan – Today we have news on a NNN Ground Lease with Corporate PNC Bank as Tenant. Agree Realty Corporation has acquired this NNN Investment Property, ground leased on a long-term basis to PNC Bank. This Net Lease Property was purchased for approximately $2,775 Million. This Net Lease Investment with PNC Bank has approximately 28.5 years remaining on the base term of the lease.
This NNN Ground Lease investment property is located in Antioch, Illinois. This Net Lease Property with PNC Bank, was formerly a National City Bank. PNC Bank had recently signed a 30-year NNN ground lease with five 10-year options. This NNN Ground Lease has 10% rent increases every five years in both the initial term and options.
Agree Realty is involved in the ownership, management and development of Commercial Properties. The majority of their Investment Property Portfolio are primarily Net Lease Properties. These Net Lease Investments are made up of single tenant properties leased to major retail tenants and neighborhood community shopping centers. Agree Realty owns and operates an Investment Property Portfolio of 75 commercial properties. These Commercial Properties are located in 15 states and containing 3.5 million square feet of leasable space.
This NNN Property is located at the corner of Route 173 and Hillside Avenue. The Net Lease Property was being marketed as a Cap Rate of 6.65%. The Net Lease Property is positioned in the city’ s dominant retail shopping area. The Net Lease Investment sits adjacent to a net-leased CVS. PNC Bank is surrounded by other national retail commercial properties including Jewel-Osco, Piggly Wiggly, Dollar General, Baskin Robbins, H&R Block, Blockbuster, Subway, Radio Shack and numerous others.
The Net Lease Property is in the Village of Antioch. Antioch is located midway between Chicago and Milwaukee and has the best of all worlds. This Retail Shopping area has an area for business and community to grow and prosper. The Village of Antioch is surrounded by several lakes. This area offers resident numerous recreational opportunities for fishing, ice skating in the winter and other activities. In addition, Antioch offers a charming downtown shopping district with over 100 unique shops and restaurants and bakeries. This Net Lease Property benefits from this area as it is currently undergoing rapid commercial and residential growth. The Village of Antioch appears to be committed to continuing the high quality of life enjoyed by the citizens and businesses of the Antioch community.
Agree Realty should be pleased with this Net Lease Property, with a Corporate PNC Bank. Agree Realty is headquartered at 31850 Northwestern Highway in beautiful Farmington Hills, Michigan. Agree Realty continues to add to their growing Investment Property Portfolio of net lease properties. They remain focused on continuing their efforts to diversify their Investment Property Portfolio, as well as complementing it via acquisitions and development.
Many of these Absolute NNN Ground Lease Investments can be solid assets and well-positioned to build wealth over the long term. These are excellent choices for 1031 Exchange Properties.
- Arby’s NNN Ground Lease
- Burger King NNN Ground Lease
- Carl Jr’s NNN Ground Lease
- Checkers NNN Ground Lease
- Chick-Fil-A NNN Ground Lease
- Chipotle NNN Ground Lease
- Dunkin Donuts’ & Baskin Robbins NNN Ground Lease
- El Pollo Loco NNN Ground Lease
- Jack in the Box NNN Ground Lease
- KFC NNN Ground Lease
- Long John Silvers NNN Ground Lease
- McDonald’s NNN Ground Lease
- Panda Express NNN Ground Lease
- PDQ NNN Ground Lease
- Pizza Hut NNN Ground Lease
- Portillo’s Hot Dogs NNN Ground Lease
- Rally’s NNN Ground Lease
- Sonic Drive In NNN Ground Lease
- Starbucks NNN Ground Lease
- Steak N’ Shake NNN Ground Lease
- Taco Bell NNN Ground Lease
- Tim Hortons NNN Ground Lease
- Wendy’s NNN Ground Lease
- White Castle NNN Ground Lease
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