Panera Bread

Panera Bread

1009 University Boulevard
Suffolk, VA

Price: $3,359,345
Cap: 4.75%
NOI: $159,169
Building Size: 4,300
Lot Size: 1.09

Investment Highlights

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

About the Location
 - Dense Retail Corridor | Walmart, Kroger, Rite Aid, Dick’s Sporting Goods, Food Lion, Applebee’s, McDonald’s, Wendy’s, as well as Many Others
 - Strong Academic Presence | Old Dominion University | Total Enrollment Exceeding 24,930 Students | Located Within a Ten-Mile Radius
 - Affluent Suburban Community | Average Income within a Three-Mile Radius Exceeds $90,820 | Population Exceeds 404,430 Individuals Within a 10-Mile Radius
 - Excellent Real Estate Fundamentals | Within 35 Miles of Virginia Beach, VA and Norfolk, VA | Norfolk International Airport -Serves Over 3.6 Million Passengers Annually
 - Features High Visibility and Ease of Access | Over 66,000, 22,000 and 11,000 Vehicles Per Day Along Interstate-644, College Road and Hampton Roads Pkwy

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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