Investment Highlights
- New Construction | Built in 2018
- Long-Term, 19-Year Absolute Triple Net Sale-Leaseback
- Lease Commencement Upon Close of Escrow
- 1.75% Rental Increases Annually Starting Year Five
- 4, 5-Year Tenant Renewal Options, Bringing the Potential Lease Term to 39 Years
- Dense Retail Corridor | Walmart, Costco Wholesale, Lowe’s, Target, Aldi, Walgreens, CVS Pharmacy, Burger King, Taco Bell, Holiday Inn & Suites, as well as Many Others
- Strong Academic Presence | Less Than Five Miles From Tulsa Community College | Over 20,100 Students Enrolled
- Strong Traffic Counts | Over 54,000 Vehicles Per Day Along S. Memorial Drive
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a newly built Panera Bread located at 10752 S. Memorial Drive in Tulsa, OK. This is an investment opportunity to participate in a direct sale leaseback with Traditional Bakery, Inc.. The newly constructed site will consist of roughly 5,013 rentable square feet of building space on estimated 1.01-acre parcel of land. The café opened in 2018.
Traditional Bakery, Inc., the franchisee operating entity, will enter into a brand new 19-year NNN sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $150,000 and will increase by 1.75 percent annually starting year 5 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 39 years.
Broker of Records
Tim Speck
Lic # 149994
