September 23, 2022 – Justin Spillane of Horvath & Tremblay has successfully completed the sale of a Panera Bread ground lease in Austin, Texas. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,075,000.
Panera Bread is located at 13000 N Interstate 35 Frontage Road in Austin, Texas. The property is comprised of a 4,500 square foot single-tenant building with a drive-through lane on 1.08 acres of land. Panera was constructed in 2017 and has 10 years remaining on their Absolute NNN Lease with four (4), 5-year renewal options. The lease calls for attractive 8% scheduled rent increases every five-years throughout the base term and at the start of each renewal option. Panera Bread is well positioned as a pad-site to a Lowe’s Home Improvement and Walmart Supercenter and is surrounded by national retailers driving traffic to the area. The Property benefits from outstanding visibility and frontage along Interstate 35 (which sees more than 180,000 vehicles per day) and is less than 1-mile from John B Connally High School. Additionally, the Property is close to several large industrial clusters with numerous tenants and densely populated residential neighborhoods offering a large, built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.