- Brand New Construction | Opening November 2018!
- Long-Term, 15-Year Absolute Triple-Net (NNN) Lease
- Eight Percent Rental Increases Every Five Years
- 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: Walmart, Lowe’s Home Improvements, Walgreens, Best Buy, Marshall’s, Target, CVS Pharmacy, Petco and Wendy’s
- 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
- Corporate Tenant | Corporate Guarantee
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 an estimated 0.945-acre parcel of land. The café is scheduled to open in November 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.