Bank
Newly Constructed Panera Bread in the Louisville MSA
2135 State St, New Albany, IN 47150
Listing Price: $3,017,500
Investment Overview
Subject is 3,550 Square-Feet of a Newly Constructed Prime
2-Tenant Retail Building | Build-to-Suit for Panera on a .87-Acre
Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress,
and Strategically Located at a Signalized Intersection.
Panera NN Lease with Minimal Landlord Responsibility, a 10-
Year Base Term, Over 8 Years Remaining, and 10% Rental
Increases Every 5 Years with 3 x 5-Year Options.
Newly Constructed Panera Bread in the Louisville MSA
Investment Highlights
- Tenant Panera Bread is Owned by JAB Holdings, Who Currently Plans to Take the Company Public Over the Next Year.
- Robust Traffic Counts on State Street (30k VPD) and Less than One-Half Mile from US-265 (70k VPD) and One Mile from US64 (61k VPD) (Source: CoStar, 2022).
- Well Established State Street Retail Corridor | Nearby National Retailers Include: Target, Kroger, Home Depot, KFC, Arby's, Five Guys, Chick-fil-A, Starbucks, Walgreens, CVS, Fairfield Inn, and Oth
- Thriving Community with an Average Household Income of Over $65K within Five Miles of the Subject Asset, as of 2023.
- Subject is 6 Miles from Downtown Louisville Kentucky with a Population of 1,365,557.
Exclusively Listed By
Broker of Record
Listing Price: $3,017,500
Investment Highlights
- Tenant Panera Bread is Owned by JAB Holdings, Who Currently Plans to Take the Company Public Over the Next Year.
- Robust Traffic Counts on State Street (30k VPD) and Less than One-Half Mile from US-265 (70k VPD) and One Mile from US64 (61k VPD) (Source: CoStar, 2022).
- Well Established State Street Retail Corridor | Nearby National Retailers Include: Target, Kroger, Home Depot, KFC, Arby's, Five Guys, Chick-fil-A, Starbucks, Walgreens, CVS, Fairfield Inn, and Oth
- Thriving Community with an Average Household Income of Over $65K within Five Miles of the Subject Asset, as of 2023.
- Subject is 6 Miles from Downtown Louisville Kentucky with a Population of 1,365,557.
Investment Overview
Subject is 3,550 Square-Feet of a Newly Constructed Prime 2-Tenant Retail Building | Build-to-Suit for Panera on a .87-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, and Strategically Located at a Signalized Intersection. Panera NN Lease with Minimal Landlord Responsibility, a 10- Year Base Term, Over 8 Years Remaining, and 10% Rental Increases Every 5 Years with 3 x 5-Year Options.
Exclusively Listed By
Broker of Record
-
Josh Caruana
First Vice President/District Manager
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