- Brand New Construction; Opening Nov/Dec 2018
- Long-Term, 15-Year Absolute NNN Lease
- 8 Percent Increases Every 5 Years with 3, 5-Year Renewal Options
- Dense Retail Corridor | Walmart, Walgreens, O’Reilly Auto Parts, Wendy’s, McDonald’s Chick-fil-A, as well as Many More
- Compelling Location Fundamentals | Less Than Six Miles from Texas Tech University and Lubbock Christian University | Over 39,000 Students Enrolled
- Quality Demographics | Population Exceeds 215,300 Individuals Within a 5-Mile Radius
- Within Seven Miles of Lubbock Preston Smith International Airport | Serves More Than 600,000 Passengers Annually
- Strong Traffic Counts | Over 20,600 Vehicles Per Day on Milwaukee Avenue
- Cain Holding Group | 19-Unit Experienced Operator
Marcus & Millichap is pleased to present the exclusive listing for a brand new Panera Bread located at 4532 Milwaukee Avenue in Lubbock, Texas. This is a rare investment opportunity to participate in a direct sale-leaseback with Cain Holding Group. The newly constructed site will consist of roughly 4,925 rentable square feet of building space on estimated 1.15 acre parcel of land. The café is scheduled to open in November / December of 2018.
Cain Holding Group will enter into a brand new 15-year triple-net sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $182,000 and will increase by eight percent every five years throughout the term of the lease and in each option period. There will be three, five-year tenant renewal options, extending the total possible lease term to 30 years.