Panera Bread Rocky Mount, North Carolina

$2,726,288
Property type: Single-Tenant Net Lease

The space

  • Price: $2,726,288
  • Annual Rent: $129,499
  • Est Store Opening: November 5, 2019
  • Building Size: 5,460 SF
  • Lot Size: +/- 1.41 Acre
  • Lease Term: 15 Years
  • Lease Type: NNN
  • Rental Increases: 8% Every 5 Years
  • Options to Renew: 4, 5-Year Options

Description

960 Tarrytown Center
Rocky Mount, NC 27804

Investment Highlights

  • Brand New Construction; Opening November 2019!
  • Long-Term, 15-Year Absolute Triple Net 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
  • Outparcel to a Sam’s Club in a Robust Retail Corridor | Walmart Supercenter, Lowe’s, Aldi, Target, CVS Pharmacy, Walgreens, Chick-fil-A, McDonald’s,
  • Burger King, Wendy’s, and Many More
  • Several Hospitality Accommodations in the Area | Hampton Inn, Candlewood Suites, Country Inn & Suites, DoubleTree by Hilton, Days Inn & Suites,
  • Comfort Inn, Holiday Inn, Courtyard by Marriott | All within Three Miles of Subject
  • High Visibility | Positioned Just off an Exit of N Wesleyan Blvd where it Merges with Sunset Ave at a Signalized Intersection
  • Less than Two Miles from Golden East Crossing Shopping Mall | 35+ Retail Stores
  • Less than Three Miles from Nash General Hospital | Largest Employer in the Area with More than 1,650 Employees and 280 Beds
  • Acquired in 2017 by JAB Holdings, a European conglomerate that owns Krispy Kreme, Keurig, Peet’s Coffee, Pret A Manger, among other assets; positioning the chain for continued growth and long-term returns

 

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 960 Tarrytown Center in Rocky Mount, 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 November 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 $129,499 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
License: 303785

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