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

Near Signalized, Hard Corner Intersection | Crossings Golden Link | Lowe’s & Target Anchored Center | Near Interstate 271
• Subject property is strategically located near the signalized, hard corner intersection of State Highway 8 and E. Aurora Road
• Positioned as an outparcel to The Crossings at Golden Link, a 120,000+ SF shopping center
• The Crossings at Golden Link is anchored by Lowe’s and Target
• Panera Bread is positioned near Interstate Interstate 271, an auxiliary interstate highway serving the suburbs of Cleveland and 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 significant street frontage along E. Aurora Road, promoting excellent visibility and ease of access
Strong Demographics In 5-Mile Trade Area | Cleveland MSA
• More than 66,000 residents and 51,000 employees
• Features an average household income of $106,995
• Subject property is located approximately 23 miles South of Cleveland

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