November 13, 2020 – Jeremy Black and Brad Canova of Horvath & Tremblay have successfully completed the sale of Panera Bread in Marietta, Georgia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,605,263 which represents a Cap Rate of 4.75%.
The Panera Bread is located at 1430 Terrell Mill Road SE in Marietta, Georgia. The stand-alone building consists of 4,321 square feet and sits on 1.1 acres of land. The newly constructed site features excellent visibility and a drive-thru. Panera Bread has 14+ years remaining on a corporately backed, Absolute Triple-Net Lease with three (3) 5-Year Options. The lease features 10% rent increases every five years throughout both the current term and the option periods. Panera Bread is strategically positioned as an outparcel to MarketPlace Terrell Mill a regional mixed-use center anchored by a high-volume Kroger Grocery Store and 298 luxury residential units. The property is situated along a dense retail corridor with robust demographics including more than 206,000 people within 5-miles, and strong traffic counts with more than 55,000 vehicles per day passing through the adjacent intersection of Powers Ferry Road and Terrell Mill Road. Panera Bread is also located less than 2-miles from the new Atlanta Braves Truist Park.
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.