The Knipp Wolf Net Lease Group of Marcus & Millichap Announces the Sale of a PNC Bank in Glendale, Arizona

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a PNC Bank in Glendale, Arizona according to Tim A. Speck, division manager in the firm’s Dallas office.

Ryan Wolf, First Vice President Investments, and Vincent Knipp, Senior Managing Director Investments, in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller.

Although PNC Bank is vacating the premise at the end of the lease term, they still had future rent obligations at the time of sale.

“We generated eight offers from qualified buyers and set a sales price record for the vacant bank asset type,” said Wolf.

PNC Bank is located at 5740 W Bell Road in Glendale, Arizona.