Panera Bread Sale Lease Back

Panera Bread Sale Lease Back

1530 109th Ave NE
Blaine, MN

Price: $2,866,835
Cap: 4.75%
NOI: $136,175
Building Size: 4,400 SF
Lot Size: 0.95 AC

Investment Highlights

Marcus & Millichap is pleased to present the exclusive listing for a brand new Panera Bread located at 1530 109th Avenue in Blaine, Minnesota. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will be located immediately off of Minnesota State Highway 65 and will consist of roughly 4,400 rentable square feet of building space on estimated 0.945-acre parcel of land.

The café is scheduled to open by the end of 2018. Panera, LLC, the corporate operating entity, will enter into a brand new 15-year triple-net (NNN) sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $136,175 and will increase by 8 percent every five years throughout the term of the lease and in each option period. There will be four, five-year tenant renewal options, extending the total possible lease term to 35 years.

About the Investment
✓ Brand New Construction | Opening Late 2018!
✓ Long-Term, 15-Year Absolute Triple-Net (NNN) Lease
✓ Lease Commencement Upon Close of Escrow
✓ There are 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
✓ Strong Traffic Counts | 109th Ave NE and Central Ave NE| Over 18,400 and 43,500 Vehicles Per Day Respectively
✓ Dense Retail Corridor | Surrounded By: Target, Wendy’s, Buffalo Wild Wings, Chili’s Grill & Bar, Walmart, Lowe’s Home Improvements, Walgreens, Best Buy, Marshall’s, CVS Pharmacy, and Petco
✓ Strong Demographics | Population Exceeding 159,650 Individuals Within Five-Mile Radius
✓ Extremely Affluent Suburban Community | Average Income Exceeds $92,700 Within One-Mile Radius
✓ Prime Location Next to National Sports Center | 600-Acre Multi-Sports Complex Containing the Schwan Super Rink | Largest Ice Arena in the World
✓ Minneapolis - St. Paul International Airport | Serves Over 35 Million Passengers Annually | Located Less than 30 Miles Away from Subject Property

About the Tenant/Brand
✓ Panera has been one of the most successful restaurant companies in history
✓ Panera is 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
✓ Restaurant Business names Panera Bread’s Ron Shaich ‘2018 Restaurant Leader of the Year’
✓ Named “Sales Leader” by Nation’s Restaurant News in the Bakery-Café Group – June 2017
✓ Pioneer in Advanced Technology – Driver of Ongoing Sales Growth and Improved Delivery-Catering Initiatives
✓ Recently acquired by JAB Holdings, a European conglomerate that owns Krispy Kreme, Keurig, Peet’s Coffee, among other assets; positioning the chain for continued growth and long-term returns

Don McMinn
OFFERING MEMORANDUM

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