Investment Highlights
- Brand New Construction; Opening October 2019!
- Long-Term, 15-Year Absolute Triple Net Lease
- Lease Commencement Upon Close of Escrow
- Eight Percent Rental Increases Every Five Years
- Four, Five-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
- Corporate Tenant | Corporate Guarantee
- Dense Retail Corridor | Walmart, Lowe’s, Walgreens, CVS Pharmacy, Dairy Queen, McDonald’s, Burger King, Holiday Inn Express, Hampton Inn, as well as Many Others
- Strong Academic Presence | Less Than Ten Miles From Wake Technical Community College | Over 69,900 Students Enrolled
- Average Income Within a Three-Mile Radius Exceeds $89,175 | Population Exceeds 194,520 Individuals Within a 10-Mile Radius
- Within Five Miles of Raleigh, NC | Raleigh Durham International Airport – Serves Over 11.6 Million Passengers Annually
- Strong Traffic Counts | Over 27,540 and 51,930 Vehicles Per Day Along NC Highway 42 and Interstate-40
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 5158 NC Highway 42 in Garner, NC. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 5,460 rentable square feet of building space on estimated 1.41-acre parcel of land. The café is scheduled to open in October 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 $167,630 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.
Broker of Record
Ben Yelm
Lic# 303785
