February 3, 2020 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of Panera Bread in Sheboygan, Wisconsin. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $2,385,000, a 5.03% cap rate.
The Panera Bread is located at 3347 Kohler Memorial Drive in Sheboygan, Wisconsin. The stand-alone building consists of 4,400 square feet and sits on 1.70 acres of land. The site features two convenient access points as well as a drive-thru. Panera Bread has 14 years remaining on a corporately backed, triple-net ground lease with three, 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 a newly constructed Meijer and is adjacent to a shopping center that is anchored by Kohl’s and Bed Bath and Beyond. The property is situated at a signalized intersection with average daily traffic counts in excess of 48,000 vehicles per day.
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.