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

Fronting Broadview Road | Dense Retail Corridor | Surrounding Big Box Retailers | Near Interstate 77
• Subject property is fronting Broadview Road, a primary retail and commuter thoroughfare serving Seven Hills and the immediate trade area
• Dense retail corridor that includes big box retailers such as Giant Eagle, Big Lots, TJ Maxx, Acme Fresh Market, Meijer, and more
• Panera Bread is positioned near Interstate 77, a north/south Interstate Highway in the eastern United States and leading to Cleveland
Multiple Points of Access | Excellent Visibility
• The asset is benefits from multiple points of access, providing ease and convenience for customers
• Panera Bread benefits from significant street frontage, promoting excellent visibility
Strong Demographics In 5-Mile Trade Area | Cleveland MSA
• More than 174,000 residents and 86,000 employees
• Features an average household income of $81,620
• Subject property is located approximately 13 miles South of Cleveland

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