PNC Bank property on North University Drive in Coral Springs sells for $5 million in major commercial real estate deal
Coral Springs, Florida – A PNC Bank property along North University Drive in Coral Springs has sold for $5 million, highlighting continued investor interest in well-located commercial real estate across South Florida.
Marcus & Millichap announced Tuesday that it arranged the sale of the net-leased bank property at 2561 N. University Drive. The property includes a 4,212-square-foot building on 2.01 acres of land and is currently occupied by PNC Bank.
The building was constructed in 2012 and sits along one of Coral Springs’ busiest commercial corridors. The sale involved a local private investor, who was identified as the seller, and a local investment company that purchased the property. The names of both parties were not disclosed.
Alex Keller, Barry Wolfe and Alan Lipsky of Marcus & Millichap represented the seller in marketing the property and also secured the buyer. The transaction comes as investors continue to look for commercial properties in established South Florida locations where strong surrounding businesses can support long-term value.
“South Florida’s retail market remains strong,” Keller said. “Great locations will always attract demand, making pricing the only real question.”
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The Coral Springs property benefits from its position on North University Drive, a major commercial route with a wide range of retailers and businesses nearby. Publix, Trader Joe’s and Whole Foods Market are among the major retailers in the surrounding area, giving the site access to an established customer base and steady commercial activity.
The property is also located directly across from The Walk at University, a mixed-use retail and office development. That proximity adds to the site’s visibility and places the PNC Bank branch within a busy area that combines shopping, offices and other commercial uses.
According to Keller, the transaction reflects a broader approach among some investors who are looking beyond the current income produced by a property. Instead, they are also considering what the land and location could be worth over a longer period.
“For assets like this, investors are looking beyond the lease and recognizing the long-term value of the underlying real estate,” he said. “A two-acre site along a major South Florida retail corridor is difficult to replicate.”
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The sale price of $5 million underscores the value investors can place on commercial properties with established tenants and prominent locations. In this case, the existing PNC Bank operation provides an active use for the building, while the size and location of the property give the investment additional long-term appeal.
PNC Bank operates more than 2,500 locations across 27 states. Its presence at the Coral Springs property continues as the new ownership takes over the investment following the completed sale.
