Abilene, TX - Panera Bread

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, freestanding, Panera Bread investment property located in Abilene, TX. The tenant signed a new 20-year, corporate-backed lease with 4 (5-year) option periods to extend in December 2020, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Founded in 1987, Panera Bread is among the largest fast casual restaurants with over 2,100 locations across the United States.

Panera Bread is strategically located along Clack Street with clear visibility and access to an average of 20,100 vehicles passing by daily. The property also fronts U.S. Highway 83 (59,000 VPD), a major commuter route that connects to the neighboring State Highway 322 and Interstate 20, making this a centralized location with easy access to the MSA. Panera is ideally situated within a dense retail trade area and lies as an outparcel to the Shops at Abilene Village (144K+ SF), is adjacent to the Shops at Abilene (250K+ SF) and Park Central Shopping Center (202K+ SF), and is near the Mall of Abilene (991K+ SF). The surrounding national/credit tenants include Lowe’s, Target, Home Depot, TJ Maxx, Walmart Supercenter, Michaels, Petco, and Burlington, among many others. The strong tenant presence drives a steady stream of loyal, local consumers to the trade area, promotes crossover store exposure, and contributes to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Copper Creek (228 units), Reserve at Abilene (256 units), Indian Run (256 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 107,200 residents and 56,300 daytime employees, with a healthy average household income of $85,402.