December 23, 2024 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of a Panera Bread in Clarksville, Tennessee. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,104,761.
Paner Bread is located at 955 N Riverside Drive in Clarksville, Tennessee. Panera Bread occupies a 2,824 square foot building positioned on a 1.11-acre parcel of land. Panera Bread signed a new 15-year Absolute NNN Lease with three (3), 5-year renewal options. The lease calls for attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option. Panera Bread is strategically located along Riverside Drive, one of the area’s primary commercial and commuter corridors. The Property is seconds from Providence Boulevard (US Route 79) and is surrounded by national retailers and restaurants that drive traffic to the area and densely populated residential neighborhoods provide a built-in customer base. Additionally, the Property is 0.5-miles from Austin Peay State University with a total enrollment in excess of 10,400 students. Clarksville is the fifth largest city in Tennessee and is positioned forty miles north of Nashville.
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.