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| Panera Bread |
890 Groveland Lane, Lincoln, CA (Near Sacramento)
Purchase Price: $2,910,000
• 10 year primary lease
• Three (3) x 5 year option periods
• Triple Net (NNN) Lease
• 10% rent increases every 5 years
Land Area: ± 0.74 Acres, Building Area: ± 4,850 SF |
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Willis Ventures is excited to announce that our brokerage has closed escrow on a Panera Bread in Lincoln, CA. The property sold for $2,910,000.
Panera Bread Company is a leader in the quick-casual restaurant business with nearly 1,200 bakery-cafes in 40 states. Its locations, which operate mostly under the Panera and Saint Louis Bread Company banners, offer made-to-order sandwiches built using a variety of artisan breads, including Asiago cheese bread, focaccia, and its classic sourdough bread. The chain’s menu also features soups, salads, and gourmet coffees. In addition, Panera sells its bread, bagels, and pastries to go. More than 530 of its locations are company-operated, while the rest are run by franchisees.
The subject property is positioned in the center of a dense retail area. Panera Bread is conveniently located next to Highway 65 within close proximity to Sun City Lincoln Hills, a community with 6,800 homes and two 18-hole golf courses. The subject property is positioned as an out-parcel to Lincoln Crossings, a newly developed center with tenants including Target, Staples, PetSmart, TJ Maxx, Ross and numerous others. Other large retailers in the immediate area include The Home Depot, Safeway, Raley’s, Lowe’s and many others. Some of the other national tenants in the surrounding area include: PetsMart, Hampton Inn, TGI Fridays, Kragen Auto Parts, Chili’s, Starbucks, GNC Vitamins, Verizon Wireless, GameStop,Carl’s Jr., Panda Express, and Famous Footwear.
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