January 11, 2019 – Matthew Nadler of Horvath & Tremblay has successfully completed the sale of the ground lease to Panera Bread in Clarksburg, West Virginia. Horvath & Tremblay exclusively represented the seller and procured the buyer in the transaction that closed at a sale price of $1,530,000, a 6.21% cap rate.
The Panera Bread ground-lease is located on an outparcel to the Eastpointe Shopping Plaza. Panera Bread has been successfully operating at the site since 2002 and recently demonstrated their commitment to the location by exercising a 5-year renewal option. The ground lease currently has 4+ years remaining with one 5-year option remaining. The Panera Bread is prominently located and easily accessed from both directions on the four-lane Emily Drive which serves as the primary access road through the retail trade area. The pad site provides excellent visibility as it is strategically positioned between Emily Drive and Route 50, the primary artery through Clarksburg. Excellent traffic counts of over 23,000 vehicles pass the site daily on Emily Drive with an additional 32,000 vehicles passing the site daily on Route 50. The retail trade area is located at the cloverleaf interchange of Route 50 and Interstate 79, providing convenient access for local residents, area commuters and regional travelers due to its location at the confluence of the two major highways.
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.