Investment Highlights
- Brand New Construction
- Long-Term, 15-Year Absolute NNN Lease
- Lease Commencement Upon Close of Escrow
- 8% Rental Increases Every 5 Years
- 4, 5-Year Renewal Options, Bringing the Potential Lease Term to 35 Years
- Corporate Tenant | Corporate Guarantee
- Naval Air Station Fort Worth Joint Reserve Base | Located One-Mile from Subject Property | Employs Over 10,000 Active Military, Guardsmen, Reservists, and Civilians
- Compelling Location Fundamentals | Three Miles from Tarleton State University | Over 11,000 Students Enrolled
- Strong Traffic Counts | Over 110,000 Vehicles Per Day on Interstate 30 | Over 32,000 Vehicles Per Day on Westworth Boulevard
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a brand new Panera Bread located at 6505 Westworth Boulevard in Westworth Village, Texas. This is a rare investment opportunity to participate in a direct sale-leaseback with Panera Bread. The newly constructed site will consist of roughly 4,307 rentable square feet of building space on estimated 1.00 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 sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $152,928 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.
