PANERA BREAD (Relocation Store) Jacksonville, FL - OFFERING MEMORANDUM - LoopNet
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OFFERING
MEMORANDUM
PANERA BREAD
(Relocation Store)
Jacksonville, FL
STORE OPENS JUNE 2019
Patrick Nutt
Managing Partner
954.302.7365 | patrick.nutt@calkain.com
Panera Bread | Financial Summary
Asking Price Cap Rate Rent Schedule
$2,525,000 4.75% Term Increases Annual Rent Monthly Rent
Years 1-5 - $120,000 $10,000
13201 Atlantic Blvd Years 6-10 10% $132,000 $11,000
Jacksonville, FL 32225 Years 11-15 (Option 1) 10% $145,200 $12,100
Asset Summary Years 16-20 (Option 2) 10% $159,720 $13,310
Net Operating Income (NOI) $120,000 Years 21-25 (Option 3) 10% $175,692 $14,641
Rent/Month $10,000
Investment Highlights
Rentable Square Feet 4,571+/- SF
•• Relocation store - prior location did not offer a drive-thru
Land Area 1.50+/- Acres
•• New 10-year absolute NNN lease with 10% bumps every 5 years
Tenant Panera, LLC •• Across from Publix anchored shopping center
•• Excellent traffic counts along Atlantic Blvd (49,000 VPD)
Website www.panerabread.com
•• Affluent demographics - population of over 79,000 people with average
Stock Symbol Nasdaq: PNRA HH income of $94,000+ within 3-mile radius
Guarantor Corporate
Ownership Type Fee Simple
Lease Type NNN
Landlord Responsibilities None
Store Opens June 2019
Lease Term Remaining 10 Years
Rent Commencement Est. 2/1/2019
Lease Expiration June 30, 2029
Increases 10% Every 5 Years
Options Three (3), Five (5) Year
Calkain Companies | 2
Tenant Overview
About Panera Bread
Panera Bread Company is a national bakery-cafe concept
with 2,024 company-owned and franchise-operated
bakery-cafe locations in 46 states, the District of Columbia,
and Ontario, Canada operating under the Panera Bread®,
Saint Louis Bread Co.® and Paradise Bakery & Café® names, delivering fresh,
authentic artisan bread served in a warm environment by engaging associates.
They have grown from serving approximately 60 customers per day at our first
bakery-cafe to currently serving nearly 8.3 million customers per week system-
wide. Panera is currently one of the largest food service companies in the United
States. The company believes that success is based on their ability to create long-
term concept differentiation.
Bakery-cafes are located in urban, suburban, strip mall, and regional mall locations.
They feature high-quality food in a warm, inviting, and comfortable environment,
offerings include soups, salads, pasta, sandwiches, and bakery items. With their
identity rooted in handcrafted artisan bread, they bake fresh bread every day.
Panera is committed to providing great tasting, quality food that people can trust.
Tenant
Tenant # of Locations Serving Stock Symbol 2017 Revenue Founded
Snapshot
Snapshot 2,024 8Mil+ Customers / w Nasdaq: PNRA $727Mil 1981
Calkain Companies | 3
Location Overview
Tallahassee Subject Site
10
Jacksonville
95
Lake City 90
75
St. Augustine
Gainesville
95
Daytona Beach
4
Orlando
Hollywood
Jacksonville 12 miles Gainesville 83 miles Orlando 140 miles
Distance To St. Augustine 36 miles Daytona 88 miles Savannah 147 miles
Calkain Companies | 4
13201 Atlantic Blvd | Jacksonville, FL 32225
Subject Site
Kernan Blvd S 28,000 VPD
Abess Park
Elementary
School
D
Atlantic Blvd 49,000 VP
Hodge
Harbour Place
s Blvd 2 ,000 VP
Old Location
Harbour Village
4
D
13201 Atlantic Blvd | Jacksonville, FL 32225
Subject Site
00 VPD
49,0
Blvd
Ho
tic
tlan
dg
A
es
Blv
d2
4,0
00
VP
D
ocation
L Excellent 49,000 VPD Across from Publix
Highlights Retail Corridor Pass the Site Shopping Center
Site Plan
Atlantic Blvd 49,000 VPD
Calkain Companies | 7
Actual Rendering
Calkain Companies | 8
Location Overview, 1/3/5 Miles
1 Mile 3 Miles 5 Miles
Population
2018 Population 12,510 79,035 183,571
2023 Population 13,154 85,327 195,605
2018 Median Age 34.9 37.0 36.4
Households
2018 Total Households 4,945 29,036 70,683
2023 Total Households 5,181 31,213 75,140
Median Household Income
2018 Median HH Income $63,512 $71,621 $63,019
295
2023 Median HH Income $71,846 $79,998 $72,496
Average Household Income
2018 Average HH Income $84,558 $94,858 $87,453
2023 Average HH Income $97,254 $109,947 $102,138
95
Jacksonville 5 Mile Radius | Demographics
295 Population Median Age Avg HH Income
95 183,571 36.4 $87,453
295 Total Businesses Total Employees Annual Spending
5,628 70,054 $3,800 (Eating Out)
Calkain Companies | 9
About Us
Calkain Companies LLC is a boutique commercial real estate
investment banking firm that provides consulting and brokerage
services to both private and institutional clientele with a focus on
single tenant net lease investments. We pride ourselves on being an
innovative leader by providing our clients a full array of commercial
real estate investment brokerage and asset management solutions,
including advisory, research, debt and equity placement and wealth
management.
Calkain has built solid, lasting relationships that have been the
cornerstone of how we do business. Calkain approaches each
assignment with an eye toward each client’s individual needs.
Whether private or institutional investors, Calkain delivers real
estate solutions that maximize value while building wealth for all
of our clients.
At Calkain, our foresight and innovation are leading the net lease
investment industry.
$12 Billion $400 Million Building a solid foundation for your investment portfolio
in Closed Transactions in Active Listings calkain.com
Washington, DC Fort Lauderdale Atlanta Boston Philadelphia New York
12930 Worldgate Dr 200 SW 1st Ave 111 Village Pkwy, Bldg 2 101 Federal St 3477 Corporate Pkwy 450 Lexington Ave
Ste 150 | Herndon, VA Ste 880 | Fort Lauderdale, FL Ste 202 | Marietta, GA Ste 1900 | Boston, MA Ste 100 | Center Valley, PA 4th Fl | New York, NY
Tel: 703.787.4714 Tel: 813.282.6000 Tel: 404.900.5629 Tel: 617.261.8584 Tel: 610.410.5410 Tel: 703.787.4714
Disclaimer: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity
without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein
is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected
financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of
the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we
believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters
and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.You can also read
