Panera Bread Sale-Leaseback

Panera Bread Sale-Leaseback

401 Old Honeycutt Road
Fuquay-Varina (Raleigh MSA), NC,

Price: $3,011,809
Cap: 4.75%
NOI: $143,061
Building Size: 4,500 SF
Lot Size: 0.80 AC

Investment Highlights

About the Investment
• Brand New Construction; Opening May 2019!
• Long-Term, 15-Year Absolute Triple Net (NNN) 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
• Corporate Tenant | Corporate Guarantee

About the Location
• Dense Retail Corridor | Walmart, The Home Depot, Walgreens, Aldi, Kroger, Kohl’s, Staples, Burger King, Starbucks, Applebee’s, as well as Many Others
• Compelling Location Fundamentals | Less Than 15 Miles from North Carolina State University and Wake Tech Community College | Over 50,000 Students Enrolled
• Affluent Suburban Community | Average Income within a 5-Mile Radius Exceeds $96,100 | Population Exceeds 196,000 Individuals Within a 10-Mile Radius
• Positive Real Estate Fundamentals | Within 15 Miles of Downtown Raleigh | Raleigh-Durham International Airport Serves Over 11.6 Million Passengers Annually
• Strong Traffic Counts | Over 39,200 Vehicles Per Day on North Main Street

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
• 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

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