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Views: 303 DOM: 500 Updated: 08.26.24 Posted: 11.21.23 Status: Contract 03.25.24

Summary

Price $4,125,000
Built/Renov 2012
Tenant Panera Bread
Cap Rate 5.24%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,861
Lease Start 11-22-2019
#Units 2,118
Price/SF $848.59
Expiration 12-31-2034
Tenant Type Fast Casual/Rest.
NOI $216,297
R. Term 9.9
Ownership Fee Simple
Rent/SF $44.50
Increases 10.0%/2/yrs
Pop 5Mi 148,136
Lot/AC 0.99
Options 5/10yrs
AHHI 5Mi $74,490

Lease Highlights

  • Panera Bread has 11 years of primary term remaining with 3 (5-year) renewal options
  • The lease features a 10% rent increase in January 2025 & January 2030
  • The offering includes a billboard lease that pays $10,000 per year through October 31, 2032
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Panera is located with excellent access and visibility on the signalized intersection of North 9th Avenue (26,000 VPD) and Bayou Boulevard (25,860 VPD). Additionally, the property is just 1 mile east of the on-ramp to Interstate 110 (70,673 VPD), which converges with I-10 (81,500 VPD) just 2.5 miles north; serving all suburban Pensacola and Tallahassee. Panera is an out parcel to a...

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Tenant

  • Tenant: Panera Bread
  • Guarantor:Corporate
  • Company:JAB Holding Company
  • # Units:2,118
  • Stock:Private

About Tenant

Panera Bread Company is an American bakery-café fast casual restaurant chain, offering bakery items, pasta, salads, sandwiches, soups and specialty drinks. Founded in 1987 as Paradise...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,124 64,548 148,957
2023 Total Population : 5,190 64,569 148,136
2023 Employed Civilian Pop : 3,340 32,001 72,559
2023 Total Businesses : 1,039 4,107 8,453
2023 Average Household Income : $ 68,336 $ 78,622 $ 74,490
2023 Total Consumer Spending : $ 153 M $ 1757 M $ 4037 M
2023 Median Age : 42 39 40
2023 Total Households : 2,565 25,661 61,897
2023 Pop Age 25+: Bachelor's Degree : 650 8,713 19,883
2023 Average Home Value : $ 282,071 $ 302,660 $ 279,694
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Brent Ln N 9th Ave 2009 23,700 0.04 mi
Bayou Blvd Askew Dr 2009 23,500 0.17 mi
N 9th Ave Carpenter Creek 2009 25,000 0.25 mi
North 9th Avenue College Blvd 2022 26,000 0.29 mi
North 9th Avenue Trinity Dr 2021 31,500 0.29 mi
Brent Lane Springhill Dr 2022 25,860 0.36 mi
Bayou Boulevard Kenyon Rd 2022 23,000 0.42 mi
Bayou Boulevard Askew Dr 2021 27,000 0.42 mi
N 9th Ave Trinity Dr 2005 35,799 0.45 mi
Royce Street N Davis Hwy 2022 2,300 0.49 mi

Listing Broker

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Chris Bosworth

CBRE: NLPG Atlanta

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  • 133 Listings
  • 23500 Views
  • 77 Sold
Brian Pfohl

CBRE: NLPG Atlanta

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  • 132 Listings
  • 22811 Views
  • 74 Sold

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

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  • 135 Listings
  • 23661 Views
  • 76 Sold

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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