Panera Bread | New 15yr Corp Abs NNN Grd Lse 4268 N Varsity Ave

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, drive-thru equipped, corporate guaranteed, Panera Bread investment property located in San Bernardino, California. The tenant, Panera, LLC, recently signed a new 15 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The building is a reverse build to suit allowing a buyer to depreciate a portion of the building. Moreover, the site receives additional income from a cell tower and electric vehicle charging station located within the parcel. Tesla, Inc., signed a new 10-year lease to operate 12 charging stations on the premises - construction of which will begin following permit approval (additional revenue is included in total NOI - see page 19 for pricing details).