Overview

Description

Brand New 15-Year Sale-Leaseback | Largest Panera Franchisee | 7.50% Rental Increases | Options To Extend
• The tenant, Panera Bread will execute a brand new 15-year lease at the close of escrow
• Covelli Enterprises is the largest Panera Franchisee, operating 300+ locations across the country
• Dalcan, LLC (54 Panera Bread Stores) is the guarantor of the lease
• The lease features 7.50% rental increases every five years throughout the initial term and at the beginning of each option
• The lease also includes 4 (5-year) options to extend, demonstrating long-term commitment to the site
Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Investor benefits from fee-simple ownership of the building and land
• No landlord responsibilities
• Ideal, management-free investment for a passive investor

Located off High Street | Dense Retail Corridor | Surrounding Big Box Retailers | Directly off Interstate 76
• Subject property is located off High Street, a dense retail retail corridor
• Surrounded by big box retailers such as The Home Depot, Walmart Supercenter, Tractor Supply Co, Big Lots, Buehler’s Fresh Foods, and more
• Panera Bread is directly off Interstate 76, east/west Interstate Highway in the Eastern United States and leads directly to Akron
Drive-Thru Equipped | Excellent Visibility & Access
• The asset is equipped with a drive-thru, restaurants with drive-thrus typically generate more sales and increase productivity
• Panera Bread benefits from visibility along Interstate 76 and High Street, promoting excellent visibility and ease of access
Demographics In 5-Mile Trade Area | Akron MSA
• More than 44,000 residents and 13,000 employees support the 5-mile radius
• Features an average household income of $94,191
• Subject property is located approximately 14 miles West of Akron

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