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Views: 93 Updated: 09.16.24 Posted: 05.28.24 Status: Inactive 09.30.24

Summary

Price $6,645,000
Built/Renov 2024
Tenant Panera Bread (GL)
Cap Rate 4.35%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,950
Lease Start 02-10-2024
#Units 2,118
Price/SF $1,682.28
Expiration 12-31-2039
Tenant Type Fast Casual/Rest.
NOI $289,000
R. Term 14.9
Ownership Ground Lease
Rent/SF $73.16
Increases 10.0%/5/yrs
Pop 5Mi 455,400
Lot/AC 0.28
Options 3/5yrs/10%
AHHI 5Mi $99,282

Lease Highlights

  • Brand new 2024 construction
  • Panera Bread recently executed a brand new 15-year ground lease term with 3 (5-year) options to extend
  • The else features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Panera Bread is strategically located on Moreno Street, with access to a high daily traffic count of 52,000 vehicles. The property is surrounded by well-known national tenants, including Target (ranked in the top 15% nationwide, per Placer.ai), Gold’s Gym (ranked in the top 10% nationwide, per Placer.ai), and Best Buy (ranked in the top 30% nationwide, per Placer.ai). Additionally, it is...

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Maps

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  • 1 Mile
  • 3 Miles
  • 5 Miles

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
2029 Total Population : 22,005 186,552 452,910
2024 Total Population : 21,119 185,287 452,186
2024 Employed Civilian Pop : 10,800 89,056 215,933
2024 Total Businesses : 1,445 8,988 17,410
2024 Average Household Income : $ 99,914 $ 110,281 $ 113,944
2024 Total Consumer Spending : $ 639 M $ 5605 M $ 13933 M
2024 Median Age : 34 36 37
2024 Total Households : 7,319 58,548 141,211
2024 Pop Age 25+: Bachelor's Degree : 2,941 22,376 53,055
2024 Average Home Value : $ 586,995 $ 669,137 $ 677,390
*ESRI data is presented for informational purposes only

Listing Broker

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Bill Asher

Hanley Investment Group

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  • 151 Listings
  • 24331 Views
  • 73 Sold
Carlos Lopez

Hanley Investment Group

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  • 5 Listings
  • 1261 Views
  • 3 Sold

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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An Executive Vice President at Hanley Investment Group, Carlos Lopez specializes in the sale of single-tenant NNN retail buildings and traditional shopping centers. In addition, Carlos has specialty and expertise in the sale of buildings in downtown districts, high-profile mixed-use buildings, and high-street urban retail properties. With nearly 30 years of experience in investment sales, Carlos consistently creates value for his clients through his comprehensive knowledge and expertise. Car

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Jeff Lefko

Hanley Investment Group

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  • 151 Listings
  • 23690 Views
  • 75 Sold

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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