Restaurant

Panera Bread

15 N Airmont Rd, Suffern, NY 10901

Listing Price: $4,425,732

Cap Rate
5.00%
Tenant Name
Panera LLC
Gross SF
4,430
Guarantor
Corporate Guarantee
Rentable SF
4,430
Price/Gross SF
$999.04
Lease Type
NNN Ground Lease
Rent Per Square Feet
$49.95

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 15 North Airmont Road in Suffern, NY. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 4,430 rentable square feet of building space on estimated 1.43-acre parcel of land. The caf is scheduled to open in September of 2020.
Panera, LLC, the corporate operating entity, will enter into a brand new 15-year triple-net (NNN) sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $199,158 and will increase by eight percent (8.0%) every five (5) years throughout the term of the lease and in each option period. There will be four (4), five (5)-year tenant renewal options, extending the total possible lease term to 35 years.

Investment Highlights

  • Brand New Construction With Drive-Thru; Estimated Opening TBD
  • Long-Term, 15-Year Absolute Triple Net (NNN) Ground Lease
  • Lease Commencement Upon Close of Escrow

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Don McMinn

    Senior Managing Director Investments

    Email Don

    License(s): GA: 292036

    Atlanta

  • Barry M. Wolfe

    Senior Managing Director Investments

    (954) 245-3493

    Email Barry

    License(s): FL: SL702613

    Fort Lauderdale

Listing Price: $4,425,732

Cap Rate
5.00%
Tenant Name
Panera LLC
Gross SF
4,430
Guarantor
Corporate Guarantee
Rentable SF
4,430
Price/Gross SF
$999.04
Lease Type
NNN Ground Lease
Rent Per Square Feet
$49.95

Investment Highlights

  • Brand New Construction With Drive-Thru; Estimated Opening TBD
  • Long-Term, 15-Year Absolute Triple Net (NNN) Ground Lease
  • Lease Commencement Upon Close of Escrow

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 15 North Airmont Road in Suffern, NY. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 4,430 rentable square feet of building space on estimated 1.43-acre parcel of land. The caf is scheduled to open in September of 2020.
Panera, LLC, the corporate operating entity, will enter into a brand new 15-year triple-net (NNN) sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $199,158 and will increase by eight percent (8.0%) every five (5) years throughout the term of the lease and in each option period. There will be four (4), five (5)-year tenant renewal options, extending the total possible lease term to 35 years.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Don McMinn

    Senior Managing Director Investments

    Email Don

    License(s): GA: 292036

    Atlanta

  • Barry M. Wolfe

    Senior Managing Director Investments

    (954) 245-3493

    Email Barry

    License(s): FL: SL702613

    Fort Lauderdale

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