Investment Highlights
- Brand New Construction; Opening August 2018!
- Long-Term, 15-Year Absolute Triple Net (NNN) Lease
- 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
- Strong Traffic Counts | Over 38,000 Vehicles Per Day on U.S Highway 380
- Compelling Location Fundamentals | Less Than Four Miles from Collin College|Over 52,000 Students Enrolled
- Affluent Suburban Community | Average Income within a 3-Mile Radius Exceeds $103,000 | Population Exceeds 153,000 Individuals Within a 5-Mile Radius
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a brand new
Panera Bread located at W. University Drive (US 380) in McKinney, Texas. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will be located one and a half miles west of U.S. Highway 75 and will consist of roughly 4,300 rentable square feet of building space on estimated 1.18 acre parcel of land. The café is scheduled to open in August 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 $160,194 and will increase by eight percent (8.0%) every five (5) years throughout the term of the lease and in each option period. There will be four (4), five (5)-year tenant renewal options, extending the total possible lease term to 35 years.
