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PNC Bank & Chili's Bar and Grill

2 Retail Properties Offered at £3,945,000 in Multiple Locations

Executive Summary

Two single tenant Net Lease Investment properties
PNC Bank is located on a pad site in front of Riverstone Town Centre anchored by Target, Home Depot, Kohl’s Hobby Lobby,
Office Depot, and numerous other national retailers. PNC recently exercised a 5-year renewal of the lease term, with three
additional 5-year option periods. PNC Bank was founded in 1922 and as of the end of 2023 operated 2,945 bank branches in 37
states. PNC has a national credit rating of A by Moody’s S&P.

Chili’s Grill & Bar has been at the Northwest Freeway location since 2000 and is expected to exercise their 4th 5-year term
lease renewal option term which commences March 1, 2025. With only one 5-year term remaining after the 4th renewal term is
exercised, there is substantial upside to increase net income in the future. Brinker International has over 40 years of operating
experience with the Chili’s brand with more than 1600 locations in 29 countries.
Access Flyer https://texas.colliers.com/pnc-bank-chilis-grill-bar-1136509-confidentiality-agreement

Property Facts

Price £3,945,000
Price / SF £432.57 / SF
Sale Type Investment
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 9,120 SF
Total Land Area 2.55 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
Chili's
19825 Northwest Fwy, Houston, TX 77065
Retail 5,520 SF 1999 -
PNC Bank
5724 Highway 6, Missouri City, TX 77459
Retail 3,600 SF 2005 -
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  • Listing ID: 31609328

  • Date on Market: 25/04/2024

  • Last Updated:

  • Address: PNC Bank & Chili's Bar and Grill, Houston, TX

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