- Brand New Construction With Drive-Thru; Opened December 2019!
- Long-Term, 15-Year Absolute Triple Net Lease
- Lease Commencement Upon Close of Escrow
- Corporate Relocation Site: Displaying the Tenants Long-Term Commitment to the Site. Panera Has Been Operating in the Muncie Market Since 2002
- Eight Percent Rental Increases Every Five Years
- Four, Five-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
- Dense Retail Corridor | Target, Dick’s Sporting Goods, Walgreens, CVS Pharmacy, Aldi, McDonald’s, Wendy’s, Burger King, as well as Many Others
Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 900 E. Highway 80 in Muncie, IN. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site consists of roughly 4,393 rentable square feet of building space on 1.03-acre parcel of land. This Panera Bread was a relocation store with a drive thru, and opened in December 2019.
Panera, LLC, the corporate operating entity, 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 $151,238 and will increase by eight 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.
Broker of Record
Josh Caruana – RB14034355