- Brand New Construction; Opening May 2019!
- Long-Term, 15-Year Absolute Triple Net (NNN) Lease
- Lease Commencement Upon Close of Escrow
- 8% Rental Increases Every 5 Years
- 4, 5-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
- Corporate Tenant | Corporate Guarantee
- Dense Retail Corridor | Walmart, The Home Depot, Walgreens, Aldi, Kroger, Kohl’s, Staples, Burger King, Starbucks, Applebee’s, as well as Many Others
- Less Than 15 Miles from North Carolina State University and Wake Tech Community College | Over 50,000 Students Enrolled
- Average Income within a 5-Mile Radius Exceeds $96,100 | Population Exceeds 196,000 Individuals Within a 10-Mile Radius
- Within 15 Miles of Downtown Raleigh | Raleigh-Durham International Airport Serves Over 11.6 Million Passengers Annually
- Strong Traffic Counts | Over 39,200 Vehicles Per Day on North Main Street
Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 1330 North Main Street in Faquay-Varina, North Carolina. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 4,500 rentable square feet of building space on estimated 0.80-acre parcel of land. The café is scheduled to open in May 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 $143,061 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.