Panera Bread

Highlights:

• Relocation Store From In-Line Space Within the Market to Panera's New Drive Thru Concept.
• Absolute NNN Lease - Zero Landlord Obligations Whatsoever.
• 11 Years Remaining on a 15-Year Term - Stable Cash Flow Asset.
• Rental Escalations Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation.
• Corporate Backed Guaranteed by Panera LLC - More than 2,200 Locations in 47 States and The District of Columbia
• Troy Michigan One of the Most Sought-after Markets in Oakland County: Population Exceeds 10,375 Within a 1 Mile Radius.
• Average Household Income: $101,177 Within a 1 and 3 Mile Radius.
• Surrounded by National Tenants: Whole Foods, Target, Kroger, Somerset Mall, Neiman Marcus, LA Fitness, The Home Depot, and Many More.

Description:

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Troy is a prominent suburban business and retail center located in Oakland County, approximately 20 miles north of Downtown Detroit. As one of Metro Detroit’s primary commercial hubs, the city benefits from excellent regional connectivity via Interstate 75 and nearby I-696 and M-59, providing convenient access throughout Southeast Michigan. Troy has an estimated population of approximately 88,700 residents and boasts a strong demographic profile, with a median household income of approximately $120,000.

Troy’s economy is supported by a diverse concentration of corporate offices, automotive and engineering firms, financial services, healthcare providers, technology companies, and professional services. The city contains more than 40 million square feet of office, retail, and industrial space and has historically maintained a substantial daytime employment population, helping generate consistent demand for restaurants, retailers, and service-oriented businesses.

The city is also one of Michigan’s premier retail destinations, anchored by the Somerset Collection along the Big Beaver Road corridor. The upscale shopping center features approximately 160 stores and restaurants and serves as a major regional destination for luxury shopping, dining, and entertainment. Troy recorded more than $4.16 billion in retail sales in 2022, further demonstrating the strength of the local consumer and commercial market.

Troy combines an affluent residential base, substantial daytime population, strong corporate presence, and excellent highway accessibility, positioning the community as one of Metro Detroit’s most established and desirable commercial markets. Its proximity to Detroit and other major Oakland County communities, including Birmingham, Bloomfield Hills, Royal Oak, and Rochester Hills, further strengthens Troy’s role as a regional employment, retail, and investment destination.

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