Investment Highlights
- Brand New Construction; Opening December 2019
- Long-Term, 15-Year Absolute 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, Walgreens, Chase Bank, Safeway, Staples, Dollar Tree, McDonald’s, Starbucks, Burger King, as well as Many Others
- Strong Academic Presence | Less Than Two Miles from Desert Edge High School| Over 1,760 Students Enrolled
- Affluent Suburban Community | Average Income within a Three-Mile Radius Exceeds $91,810
- Population Exceeds 425,970 Individuals Within a 10-Mile Radius
- Less Than 16 Miles From Downtown Phoenix and Phoenix Sky Harbor International Airport – Serves Over 40 Million Passengers Annually
- Strong Traffic Counts | Over 32,070 and 161,130 Vehicles Per Day Along Pebble Creek Parkway and Interstate-10
- Acquired in 2017 by JAB Holdings, a European conglomerate that owns Krispy Kreme, Keurig, Peet’s Coffee, Pret A Manger, among other assets
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 1452 North Pebblecreek Pkwy in Goodyear, AZ. 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 December 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 $177,312 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
Ryan Sarbinoff
License # BR675146000
