- Brand New Construction; Relocation Store Opening December 2019
- Long-Term, 15-Year Absolute NNN Lease
- Lease Commencement Upon Close of Escrow
- 8% Rental Increases Every 5 Years
- 4, 5-Year Renewal Options
- Corporate Tenant | Corporate Guarantee
- Dense Retail Corridor | Target, Dick’s Sporting Goods, Walgreens, CVS Pharmacy, Aldi, McDonald’s, Wendy’s, Burger King, as well as Many Others
- Strong Academic Presence | Less Than Three Miles From Ball State University| Over 21,990 Students Enrolled
- Excellent Demographics | Population Exceeds 111,340 Individuals Within a 10-Mile Radius
- Positive Real Estate Fundamentals | Situated as an Outparcel to Muncie Mall | Northeast Indiana’s Premier Shopping Destination With 70+ Retail, Dining and Entertainment Options
- Strong Traffic Counts | Over 31,560 Vehicles Per Day Along E. McGalliard Road
- Acquired in 2017 by JAB Holdings, a European conglomerate that owns Krispy Kreme, Keurig, Peet’s Coffee, Pret A Manger, among other assets; positioning the chain for continued growth and long-term returns
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 will consist of roughly 5,460 rentable square feet of building space on estimated 1.41-acre parcel of land. The café is scheduled to open in December of 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