Investment Highlights
- Brand New Construction; Opening November 2019
- Long-Term, 15-Year Absolute NNN Lease
- Lease Commencement Upon Close of Escrow
- 8% Rental Increases Every Five Years
- 4, 5-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
- Corporate Tenant | Corporate Guarantee
- Located in the Heart of Plattsburgh’s Main Retail Corridor | Walmart Supercenter, Lowe’s, Sam’s Club, Walgreens, Target,, Aldi, Price Chopper-Market 32, McDonald’s, Chick-fil-A, Burger King, and Many More
- Strong Academic Presence | Less than Three Miles from SUNY Plattsburgh| Total Enrollment of 5,700+ Students
- Several Hospitality Accommodations | Hampton Inn & Suites, Quality Inn & Suites, American Best Value Inn, La Quinta Inn & Suites, Days Inn & Suites, Fairfield Inn & Suites, Holiday Inn, and Comfort Inn & Suites | All within One Mile of Subject Property
- Strong Traffic Counts | NY-3 and Interstate-87 | Approximately 29,500 and 30,200 Vehicles Per Day, Respectively
- Less than One Mile from Champlain Center | 60+ Retail Stores, Eight-Screen Cinema, Food Court, Arcade, and More
- Plattsburgh International Airport | Less than Six Miles from Subject
- Acquired in 2017 by JAB Holdings, a European conglomerate that owns Krispy Kreme, Keurig, Peet’s Coffee, PretA 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 408 Route 3 in Plattsburgh, New York. 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 $185,032 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
John Krueger
License: 10311205789
