JLL is pleased to offer for sale a freestanding, single-tenant Panera Bread Drive-Thru (the “Property” or “Asset”) located in Springfield, Oregon. This offering features a parcel in the #1 Shopping Center by annual visits in the Eugene-Springfield MSA and includes a lease to a national tenant operating on a 10.75-year lease with zero landlord responsibilities and 10% rental increases every four or five years throughout the primary term and renewal options. The site is on track for one of the strongest rent to sales ratios for Panera’s nationally. The site sits within a major growth market due to the favorable macro-economic environment in both Springfield and the state of Oregon. This offering presents the opportunity to acquire a Property leased to an industry leading tenant on excellent Pacific West real estate.
- Absolute NNN lease with no landlord responsibilities
- Major franchisee with more than 80 locations
- Top-performing site by annual sales across the US
- Pad site in 99th percentile shopping center by annual visits
- Below market rent that has exposure to 123,000 VPD
- Adjacent to I-5 and major traffic from the 820,000 SF retail center
- Proximity to University of Oregon and its 25,000 students & 5,300 employees