Panera Bread Grand Haven, Michigan

$2,621,500
Property type: Single-Tenant Net Lease

The space

  • Price: $2,621,500
  • Rentable Square Feet: 4,000
  • Annual Rent: $135,000
  • Price PSF: $655.38
  • Year Built: 2019
  • Lease Guarantor: Manna Development Group
  • Lease Type: NNN Ground Lease
  • Lease Term: 15 Years
  • Option Periods: 3, 5-Year Options
  • Rental Increases: 10% Every 5 Years
  • Lease Expiration: Nov 17, 2034

Description

1001 South Beacon Blvd
Grand Haven, MI 49417

Investment Highlights

  • Brand New, 15-Year, Triple Net (NNN) Ground Lease
  • Three, Five-Year Renewal Options with 10 Percent Rental Increases Every Five Years Throughout Base Term and Option Periods
  • Brand New Location with Drive Thru; Open Date Nov 18, 2019
  • Relocation Store from Adjacent Shopping Center, Anchored by Anytime Fitness and Rent-A-Center
  • Surrounding National Retailers Include Walmart Supercenter, Home Depot, Staples, Advance Auto Parts, Anytime Fitness, Planet Fitness, Dollar Tree, GNC, Walgreens, Starbucks, Taco Bell, KFC, McDonald’s, Applebee’s, PNC Bank, and Many More
  • Strong Franchisee; Owns and Operates More Than 130 Panera Bread Locations Throughout the Country

 

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 1001 South Beacon Blvd in Grand Haven, MI. The newly constructed site will consist of roughly 4,000 rentable square feet of building space and will include a drive thru. This is a relocation store from the adjacent shopping center that opened on November 18, 2019.

The subject property is part of a major retail area in Grand Haven and is located on Beacon Boulevard with a daily traffic count of more than 43,000 vehicles. Surrounding national retailers include Walmart Supercenter, Home Depot, Staples, Advance Auto Parts, Anytime Fitness, Planet Fitness, Dollar Tree, GNC, Walgreens, Starbucks, Taco Bell, KFC, McDonald’s, Applebee’s, PNC Bank and many more. Panera Bread is 2.5 miles from Grand Haven Memorial Airpark and four miles from Muskegon Community College – Grand Haven campus.

Manna Development Group, LLC owns and operates more than 130 Panera Bread locations throughout southern California, Oregon, Washington, Michigan, Indiana and Colorado.

 

Broker of Record:
Steve Chaben
Regional Manager, Detroit
Lic. # 6502387903

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