Investment Highlights
- Brand New Construction; Opening September 2018!
- Long-Term, 15-Year Absolute Triple-Net (NNN) Lease
- Lease Commencement Upon Close of Escrow
- There are Four, Five-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years with 8 Percent Rental Increases Every Five Years
- Corporate Tenant | Corporate Guarantee
- Strong Traffic Counts | Interstate 95 and England Street | Over 113,200 and 23,000 Vehicles Per Day Respectively
- Dense Retail Corridor | Surrounded By: Walmart, Cracker Barrel, Starbucks, Chick Fil A, Applebee’s, Food Lion, Rite Aid, ACE Hardware, and Tractor Supply Company
- Strong Demographics | Population Exceeding 156,800 Individuals Within a 10-Mile Radius
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a brand new Panera Bread located at 810 England Street in Ashland, Virginia. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will be located immediately off of Interstate 95 and will consist of roughly 4,300 rentable square feet of building space on estimated 1.00-acre parcel of land. The café is scheduled to open in September 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 $162,633 and will increase by 8 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
| Bryn Merrey |
| License: 0225215804 |
