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 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, before being acquired by JAB Holdings.
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 more than 2,300 bakery-cafes across 47 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 #10 in the Top 100 Movers & Shakers in 2018.