Panera Bread is a chain of fast, casual restaurant and has become an increasingly popular net lease investment property due to their high consumer demand of healthy food choices.
Panera Bread net lease properties provide a long-term NNN investment with no property management responsibilities. The average restaurant size is approximately 4,500 square feet on a 1.0-1.5 acre land, often on a pad site. The lease term is usually 15-20 years with one or two options to extend the lease. Many leases include rental increases between 5%-10% in base term and option periods.
The Panera Bread® legacy began in 1981 as Au Bon Pain Co., Inc. The company was renamed Panera Bread and company's stock has grown exponentially, and today it has a market capitalization of $7.11 billion. Panera Bread's revenue in 2016 was $2.8 billion.
Panera Bread Cafes are located in well located near major shopping centers, university and college campuses, and business centers. They feature high-quality food in a warm, inviting, and comfortable environment with handcrafted artisan bread that is baked every day. The menu also features soups, salads, and sandwiches along with seasonal new dishes.
Panera Bread is a national bakery-cafe concept with 2,024 bakery-cafes across 46 states, the District of Columbia, and Ontario, Canada.The company has tested and seen positive results from the Panera 2.0 concept: fast lane kiosks, rapid pick up, and mobile ordering.
Panera Bread was recognized by Fast Casual’s as # 4 in the Top 100 in 2016 and received an Award of Excellence from Fast Casual in 2015.