August 31, 2020 – Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Panera Bread in Harrisburg, Pennsylvania. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,025,000 which represents a Cap Rate of 6.00%.
The Panera Bread is located at 4640 High Pointe Boulevard in Harrisburg, Pennsylvania. The stand-alone building consists of 4,495 square feet and sits on 0.43 acres of land. The site features a corner location, excellent visibility and a drive-thru. Panera Bread has 9+ 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 High Pointe Commons, a regional shopping center anchored by a high-volume Target. The property is situated adjacent to exit 2 on Interstate 283, which sees approximately 60,000 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.