Dallas, TX - PNC Bank

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased PNC Bank ground lease investment property located in Dallas, Texas. The tenant recently executed a 20-year lease with four (5-year) options to extend, demonstrating long-term commitment to the site. The lease features 10% rent increases every five years throughout the initial term and at the beginning of each option period, providing steady NOI growth and a hedge against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.

The PNC Bank is located at the signalized, hard-corner intersection of W Camp Wisdom Road and Pastor Bailey Drive, a major retail corridor serving the city of Dallas. The property is an outparcel to The Shops at RedBird, a 720,000 SF shopping center that also features national/credit tenants including Burlington, Hibbett Sports, Champs Sports, and UT Southwestern Medical Center. Approximately one mile away, the surrounding RedBird area has been the focus of ongoing revitalization efforts, with a broader vision centered around a mixed-use environment including residential, retail, and entertainment components. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Chick-fil-A, Starbucks, Whataburger, Planet Fitness, Firestone, 7-Eleven, and many more, further increasing consumer traffic to the site. The subject property is within walking distance to Palladium RedBird, a newly-developed apartment complex. The 5-mile trade area is supported by a population of over 252,000 with an average household income of $81,317.

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