Panera Bread NNN Lease Restaurant North Carolina

Investment Offering

Tenant: Panera Bread | Asheville, NC
Premises: 4,270 SF
Renewal Options: 3 x 5 Years

Lease Expiration: 4/8/2033
Lease Type: NNN
Rental Increases: 10% Every 5 Years

Sands Investment Group is Pleased to Present the Panera Bread NNN Lease Investment Opportunity Located in The Peaks Center in Asheville, North Carolina.

BEST OF CLASS INVESTMENT

Triple Net (NNN) 15 Year Lease With Minimal Landlord Responsibilities
Brand New Construction Stand Alone Building With Fall 2019 Anticipated Opening Date
Growing NOI and Hedging Against Inflation With Attractive Rent Increases – 10% Every 5 Years and At Options
Strong Brand Recognition – Panera Bread is One of the Fastest-Growing Chains
Franchisee Guarantee – Dalcan, LLC – a Subsidiary of Covelli Enterprises – the Largest Panera Bread Franchisee in the Country
Covelli Enterprises Operates Over 315 Locations Across 8 States Nationwide
Benefits From Dedicated Drive-Thru Providing Additional Customer Convenience and Opportunity to Increase Sales Revenue

DOMINANT MARKET POSITION

The Peaks is a Newly Developed Retail Center With National Credit Tenants Including Chick-fil-A, Sleep Number, Blaze Pizza and Rise Southern Biscuits & Righteous Chicken
Neighboring Parcels Under Development For Future Retailers
High Profile Location Along Dense Growth (Residential and Retail) Corridor in Asheville, NC
Located Across From Asheville Mall (974,399 SF) With Select National Credit Tenants Including Dillard’s, JCPenney, Barnes & Noble, Old Navy, Belk, Ulta – Asheville Mall is Slated For Redevelopment
Strategic Positioning With Direct Access to the Newly Developed Asheville Market With National Credit Tenants Including Whole Foods, DSW Shoe Warehouse, Guitar Center and More
The Asheville Market Sees Over 10 Million Visitors Annually and Generates Over 2.5 Billon in Gross Revenue in Business Sales Each Year
Less Than 3-Miles From Biltmore Estate and Biltmore Village – Tourist Destination That Garners Over 1 Million Visitors Annually
5-Miles From UNC Asheville Campus – Student Enrollment of Over 3,600 People

HIGH TRAFFIC LOCATION WITH STRONG VISIBILITY

Ideally Positioned Along Tunnel Road With Visibility From I-240, Tunnel Road and S Tunnel Road
Tunnel Road Corridor is the Number 1 Retail Corridor in Western North Carolina
Three Signalized Intersections Surrounding Shopping Center Giving Multiple Points of Entry For Easy Ingress and Egress
Close Proximity to I-40 & I-240 Interchange
Prominent Signage Along Tunnel Road
Location Benefits From Additional Traffic From Proximity and Cross Access Easement to Additional National Retailers

DEMOGRAPHICS

Located in the Principal City of Asheville MSA With a Population of 462,067 Residents
Population of 210,500 People Within a 10-Mile Radius and Over 92,900 People Within a 5-Mile Radius
Growing Trade Area – Population Within 3-Miles is Anticipated to Grow by 5.21% Over the Next 5 Years
Over 22,982 Vehicles Travel Along Tunnel Road Daily
Interchange of I-240 and Tunnel Road Sees Traffic Counts Exceed 82,332 Vehicles Daily
Affluent Demographics With Large Customer Base
Consumer Spending on Food and Restaurant Dining Exceeds $576,000 Annually Within a 10-Mile Radius of Panera
Forbes Listed Asheville Among the ”15 Coolest Places to Go” in 2018

In Cooperation With Sands Investment Group North Carolina, LLC Lic. # 29362

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Tenant Overview

Panera Bread Company is an American chain store of bakery-café fast casual restaurants with over 2,000 locations. Panera Bread Company was founded in 1981 and is based in Missouri. Together with its subsidiaries, Panera Bread owns, operates, and franchises retail bakery-cafes. The company operates through three segments: Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations. It operates bakery-cafes under the Panera Bread, Saint Louis Bread Co., and Paradise Bakery & Café names that offer daily baked goods, including freshly baked bagels, breads, muffins, scones, rolls, and sweet goods; made-to-order sandwiches on freshly baked breads; soups; freshly prepared and hand-tossed salads; pasta dishes; and custom roasted coffees and cafe beverages, such as hot or cold espresso and cappuccino drinks and smoothies through on premise sales, as well as providing catering services. The company also supplies fresh dough, produce, tuna, cream cheese, and proprietary sweet goods items. As of 2019 it has about 2,147 franchise- operated bakery-cafes in the United States, the District of Columbia, and Ontario. On July 18, 2017, Panera Bread Company (Panera) and JAB Holding Company (JAB) announced the successful completion of the acquisition of Panera by a JAB-led investor group for $315.00 per share in cash. The transaction was approved by Panera’s stockholders at a special meeting of stockholders held on July 11, 2017. As a result of the completion of the acquisition, Panera’s common stock ceased trading on The NASDAQ Global Select Market before the opening of the market on July 18, 2017.

Area Overview