Property Highlights
- Long Term Passive Income – 15-year Absolute NNN lease | No Landlord Responsibilities
- Strong Lease Guaranty – Covelli Enterprises is the largest Panera Bread Franchisee in the world with over 300 locations
- Attractive Rental Increases – 5% base rental increase every 5 years in initial term | 5% increase each renewal option
- Drive Thru – This Panera Bread features a drive-thru which is becoming increasingly popular as consumer’s preferences to safety continue to evolve
- Dense Retail Corridor – Over 335,000 SF of retail located within a 0.4 mile radius of the property featuring many national retailers
- Strong Brand – 2018 Harris Poll Equitrend – Sandwich Shop Brand of the Year | Ranked as the 10th best fast food chain by QSR Magazine
- Excellent Exposure – Located at the signalized corner of Reynolda Rd (28,500 VPD) and Old Town Dr with a point of ingress/egress on each road
- Ideal Location – 5.4 miles (11 minute drive time) from downtown Winston-Salem | 1.8 miles (4 minute drive time) from Wake Forest University
- Strong Shadow Anchor – Shadow anchored by Pine Ridge Plaza, a recently renovated, 88,170 SF shopping center featuring Harris Teeter, Cici’s Pizza, and Subway
- Affluent Demographics – Average Household Income within a 5-mile radius of over $79,000 | Population within a 5-mile radius of over 140,000
- Blossoming Area – Positive growth rate expected within a 1,3, and 5-mile radius |1.6 miles from Wake Forest University | Located across the street from Briarcliffe Village – a brand new residential community featuring 21 homes