214.915.8890 JOE CAPUTO [email protected]BOB MOORHEAD [email protected]RUSSELL SMITH [email protected]property. Newly constructed Panera Bread Bakery-Cafe. 4,475+ SF building on 0.9+ acre lot. tenant. Rolling Dough, Ltd., “Lessee”, is a growing franchisee that operates 15 Panera’s and 5 Carl’s Jr. throughout Greater Houston. The Panera Bread legacy began in 1981 as Au Bon Pain Co and as of September 24, 2013, there are 1,736 bakery-cafes in 45 states and in Ontario Canada. lease structure. Brand new, 20-year, absolute NNN lease commenced in October 2013 with a 10% increase every 5-years through the primary term and in each option period. location. Panera Bread is a Walmart Supercenter pad site located at the corner of Houston Beltway 8 (92,000 Cars / Day) and Wallisville Road (31,193 Cars / Day). The subject property is across Wallisville Road from the New Forest Crossing (342,942 SF) shopping center. This development is anchored by Lowe’s Home Improvement and includes big box retailers such as Petsmart, Big Lots, Ross, and Anna’s Linens. The site is caddy corner to the Shops at Stone Park (261,427 SF). This complex is anchored by JC Penney, Best Buy, Staples, Marshall’s, and Party City. Houston, TX: 4 th largest city in US. Houston-Sugar Land- Baytown MSA Population: 5,946,800. EXCLUSIVE OFFERING | $2,400,000 / 5.00% CAP PANERA BREAD GROUND LEASE 15450 Wallisville Road, HOUSTON, Texas
12
Embed
EXCLUSIVE OFFERING | $2,400,000 / 5.00% CAP - EXP … Bread_Houston_… · · 2014-02-21Panera Bread is a Walmart Supercenter pad site located at the corner of Houston Beltway 8
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
property. Newly constructed Panera Bread Bakery-Cafe. 4,475+ SF building on 0.9+ acre lot.
tenant. Rolling Dough, Ltd., “Lessee”, is a growing franchisee that operates 15 Panera’s and 5 Carl’s Jr. throughout Greater Houston. The Panera Bread legacy
began in 1981 as Au Bon Pain Co and as of September 24, 2013, there are 1,736 bakery-cafes in 45 states and in Ontario Canada.
lease structure. Brand new, 20-year, absolute NNN lease commenced in October 2013 with a 10% increase every 5-years through the primary term and in
each option period.
location. Panera Bread is a Walmart Supercenter pad site located at the corner of Houston Beltway 8 (92,000 Cars / Day) and Wallisville Road (31,193 Cars /
Day). The subject property is across Wallisville Road from the New Forest Crossing (342,942 SF) shopping center. This development is anchored by Lowe’s
Home Improvement and includes big box retailers such as Petsmart, Big Lots, Ross, and Anna’s Linens. The site is caddy corner to the Shops at Stone Park
(261,427 SF). This complex is anchored by JC Penney, Best Buy, Staples, Marshall’s, and Party City. Houston, TX: 4th largest city in US. Houston-Sugar Land-
Baytown MSA Population: 5,946,800.
EXCLUSIVE OFFERING | $2,400,000 / 5.00% CAP
PANERA BREAD GROUND LEASE
15450 Wallisville Road, HOUSTON, Texas
EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the
property located in the southwest corner of 15450 Wallisville Road, Houston, TX by the
owner of the Property (“Seller”). The Property is being offered for sale in an “as-is, where-
is” condition and Seller and Agent make no representations or warranties as to the
accuracy of the information contained in this Offering Memorandum. The enclosed
materials include highly confidential information and are being furnished solely for the
purpose of review by prospective purchasers of the interest described herein. The enclosed
materials are being provided solely to facilitate the prospective investor’s own due diligence
for which it shall be fully and solely responsible. The material contained herein is based on
information and sources deemed to be reliable, but no representation or warranty, express
or implied, is being made by Agent or Seller or any of their respective representatives,
affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or
completeness of the information contained herein. Summaries contained herein of any
legal or other documents are not intended to be comprehensive statements of the terms of
such documents, but rather only outlines of some of the principal provisions contained
therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy
or completeness of the information contained herein or any other written or oral
communication or information transmitted or made available or any action taken or decision
made by the recipient with respect to the Property. Interested parties are to make their own
investigations, projections and conclusions without reliance upon the material contained
herein. Seller reserves the right, at its sole and absolute discretion, to withdraw the
Property from being marketed for sale at any time and for any reason. Seller and Agent
each expressly reserves the right, at their sole and absolute discretion, to reject any and all
expressions of interest or offers regarding the Property and/or to terminate discussions with
any entity at any time, with or without notice. This offering is made subject to omissions,
correction of errors, change of price or other terms, prior sale or withdrawal from the market
without notice. Agent is not authorized to make any representations or agreements on
behalf of Seller. Seller shall have no legal commitment or obligation to any interested party
reviewing the enclosed materials, performing additional investigation and/or making an offer
to purchase the Property unless and until a binding written agreement for the purchase of
the Property has been fully executed, delivered, and approved by Seller and any conditions
to Seller’s obligations hereunder have been satisfied or waived. By taking possession of
and reviewing the information contained herein, the recipient agrees that (a) the enclosed
materials and their contents are of a highly confidential nature and will be held and treated
in the strictest confidence and shall be returned to Agent or Seller promptly upon request;
and (b) the recipient shall not contact employees or tenants of the Property directly or
indirectly regarding any aspect of the enclosed materials or the Property without the prior
written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be
copied or otherwise reproduced without the prior written authorization of Seller and Agent.
Disclaimer
PAGE 3: INVESTMENT OVERVIEW
PAGE 1: COVER
PAGE 2: TABLE OF CONTENTS | DISCLAIMER
PAGE 9-10: LOCATION MAPS
PAGE 11: DEMOGRAPHICS
Table of contents | Disclaimer Panera Bread GROUND LEASE
Rolling Dough, Ltd. is a franchisee of Panera Bread in Houston, Texas. The company was founded in 2003 and currently operates 15 Panera bakery-cafes located
throughout Houston. Rolling Dough recently opened locations in League City and College Station. This franchisee also operates 5 Carl’s Jr. locations which
operate under a different entity and are not part of the lease guaranty.
Panera Bread | NASDAQ: PNRA | www.panerabread.com
Au Bon Pain Co. purchased the St. Louis Bread Company in 1993. In 1999 the company changed its name and sold its other chains, including former namesake
company Au Bon Pain, in order to expand Panera Bread into a national company. Today, Panera Bread Company, together with its subsidiaries, owns, operates,
and franchises quick-casual retail bakery-cafes in the United States and Canada. As of September 24, 2013, it operated approximately 1,736 bakery-cafes in 45
states under the Panera Bread, Saint Louis Bread Co., and Paradise Bakery & Cafe. The company was founded in 1981 and is based in Sunset Hills, Missouri.
Panera Bread ranked 37th on BusinessWeek’s list of “Hot Growth Companies” in 2005, and in 2008 Health magazine judged the company as North America’s
healthiest fast casual restaurant. Panera Bread scored the highest level of customer loyalty among quick-casual restaurants, according to research conducted by
TNS Intersearch. It ranked #2 among Excellent Large Fast-Food Chains (500 or more units) in the Sandelman & Associates 2011 Quick-Track Study. Zagat
named it the “Top Rated Facility”, the “Best Salad”, and “Best Healthy Option” amongst chain restaurants with less than 5,000 outlets. Panera Bread was also
named to BusinessWeek’s 2010 list of top 25 “Customer Service Champs,” to FORTUNE magazine’s 2010 list of “100 Fastest-Growing Companies,” and has also
won awards and recognition in nearly every market in which it has locations. Recently, Panera Bread was named Casual Dining Brand of the Year in the 2012
Harris Poll EquiTrend.
Panera Bread Co.’s 2011 fiscal annual revenue was $1.8 billion with an annual profit of $136.0 million. The company’s cash flow from operating activities was
$237 million. Average annual appreciation is 32.8% since the company’s IPO in 1991. There is no debt on the Panera Bread Co. balance sheet. Panera Bread
Co.’s 52-week range trading high is 165.90. PNRA closed at 143.14 on 7/10/2012.
PRICE: $2,400,000
CAP RATE: 5.00%
NET OPERATING INCOME: $120,000
BUILDING AREA: 4,475+ Square Feet
LAND AREA: 0.9+ Acres
YEAR BUILT: 2013
OWNERSHIP: Fee Simple Interest
OCCUPANCY: 100%
Tenant overview
3
Investment overviewPanera Bread GROUND LEASE
15450 Wallisville Road, HOUSTON, Texas
Lease Expiration: October 2033
Rent Commencement: October 2013
Initial Lease Term: 20-year term with 4, 5-year options to extend
Rent Increases: 10% every 5-years through term and options
and The University of Houston), and two of the largest systems of higher learning in
the United States (The Houston and Lone Star Community College systems). The
University of Houston’s annual impact on the Houston-area's economy alone
equates to that of a major corporation: $1.1 billion in new funds attracted annually to
the Houston area, $3.13 billion in total economic benefit, and 24,000 local jobs
generated.
CNN/Money and Money Magazine have recognized 5 cities in the Greater Houstonarea the past 3-years as part of its 100 Best Places to Live in the United States.