Marcus & Millichap brokered the sale of a newly constructed PNC Bank ground lease property in San Antonio.
Vincent Knipp, Ryan Wolf and Jonathan Neve, investment specialists in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the seller, a Texas-based developer, and procured the buyer, a private investor.
The property is located at 23234 U.S. Highway 281. Scheduled for completion in 2026, the 2,961-square-foot PNC Bank branch will be developed on 1.12 acres and is secured by a new 20-year ground lease featuring 10% rent increases every five years. The property is an outparcel to Sam’s Club within the Stone Oak trade area, where continued residential, multifamily and mixed-use development is supporting long-term growth.
