Panera Bread

Panera Bread

200 Schofield Drive
Midlothian , VA

Price: $3,258,247
Cap: 4.75%
NOI: $154,767
Building Size: 4,300 SF
Lot Size: 1.61 AC

Investment Highlights

About the Investment
✓ Brand New Construction; Opening September 2019!
✓ Long-Term, 15-Year Absolute Triple Net Lease
✓ Lease Commencement Upon Close of Escrow
✓ Has Eight Percent Rental Increases Every Five Years
✓ Has Four, Five-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
✓ Corporate Tenant | Corporate Guarantee

About the Location
✓ Dense Retail Corridor | Target, CVS Pharmacy, Regal Cinemas, Dollar Tree, Gold’s Gym, Wawa, Burger King, Taco Bell, Starbucks, as well as Many Others
✓ Located Within Westchester Commons | Outdoor Shopping Center With 50+ Stores and Restaurants
✓ Affluent Suburban Community | Average Income Within a Three-Mile Radius Exceeds $127,840 | Population Exceeds 291,890 Individuals Within a 10-Mile Radius
✓ Excellent Real Estate Fundamentals | Within 15 Miles of Richmond, VA | Richmond International Airport - Serves Over 3.6 Million Passengers Annually
✓ Strong Academic Presence | John Tyler Community College | Total Enrollment Exceeding 7,000 Students | Located Within a Four Miles Radius
✓ Boasts Heavy Traffic Counts | Over 33,000 and 45,000 Vehicles Per Day Along Midlothian Turnpike and World War II Veterans Memorial Highway

About the Tenant / Brand
✓ Panera has been one of the most successful restaurant companies in history
✓ Panera was the best-performing restaurant stock when measured over the last 20 years; delivering a total shareholding return 44 times better than the S&P 500 from 1997 to 2017
✓ Named “Sales Leader” by Nation’s Restaurant News in the Bakery-Café Group – August 2018
✓ Pioneer in Advanced Technology – Driver of Ongoing Sales Growth and Improved Delivery-Catering Initiatives
✓ Acquired in 2017 by JAB Holdings, a European conglomerate that owns Krispy Kreme, Keurig, Peet’s Coffee, Pret A Manger, among other assets; positioning the chain for continued growth and long-term returns

Don McMinn
OFFERING MEMORANDUM

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