STNL Panera Bread 4431 Tree Sparrow Ln

Investment Highlights

New 15-Year Lease with Strong Panera Bread Operator 10% Rental Increases Every 5 Years, Including Options Positioned within Mountain View Village, a ?1MM SF mixed-use destination Absolute NNN with Zero Landlord Responsibilities Benefits from frontage along 13400 South St. (?31,227 VPD) Surrounded by 100+ national retailers

Executive Summary

Colliers is pleased to exclusively offer for sale a new construction single tenant net-leased Panera Bread located within Mountain View Village ? an 85-acre mixed use destination that is a part of a larger 600- acre master development featuring additional residential, office, and retail, in the Salt Lake City, UT MSA.The asset benefits from a 15-Year Absolute NNN lease with zero landlord responsibilities and 10% rent increases every five years, including options, along with frontage on 13400 South and combined traffic counts in excess of ?47,827 VPD.Mountain View Village has been drawing people 25 miles south of downtown Salt Lake with its vast amount of must-visit shops and restaurants. Notable national co-tenants include Harmons, Cinemark, Sephora, Nike, Michaels, Burlington, PetSmart, Kona Grill, and more. The project is in Phase III of development with additional retail, office, medical, hotel, and a future Trax Line transit line extension. Upon completion of the Mountain View Village project, Mountain View Corridor is projected to carry 165,000 VPD.The asset is surrounded by affluence with nearby neighborhoods that are well known for being impressive in size and finishes servicing ?199,462 residents with an annual household income of ?$142,301 within a 5-mile radius. With the surrounding trade area growth and adjacent development, this property provides investors with a stable investment opportunity for years to come.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Fast Food Fast Food General Retail Freestanding General Retail Restaurant General Retail Storefront Fast Food
• Building Size    3,800
• Building Class    A
• LoopNet Rating    4 Star
• Year Built    2023
• Price    3,092,000
• Price Per SF    814
• Cap Rate    4.85
• NOI    150,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.29
• Land Acres    0.30 AC