Panera Bread

Panera Bread

15 North Airmont Road
Suffern, NY

Price: $4,425,732
Cap: 5.00%
NOI: $221,287
Building Size: 4,430
Lot Size: 1.43 AC

Investment Highlights

About the Investment

- Brand New Construction With Drive-Thru; Estimated Opening TBD
- Long-Term, 15-Year Absolute Triple Net (NNN) Ground Lease
- Lease Commencement Upon Close of Escrow
- Eight Percent (8.0%) Rental Increases Every Five (5) Years
- Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years

About the Location

- Dense Retail Corridor | Walmart, Walgreens, Starbucks, Wendy’s, McDonald’s, Shop Rite, Burger King, and Many More
- Strong Academic Presence | Less than Three Miles from Rockland Community College| Total Enrollment Exceeds 7,000+ Students
- Affluent Suburban Community | Average Income Within a Three-Mile Radius is $122,000 | Population Exceeds 191,160 Individuals Within a Five-Mile Radius
- Strong Traffic Counts | North Airmont Road and Interstate-87 | Approximately 11,500 and 102,500 Vehicles Per Day, Respectively

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, PretA Manger, among other assets; positioning the chain for continued growth and long-term returns

Don McMinn
OFFERING MEMORANDUM

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