Panera - Baxter, MN

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the fee simple interest in a Panera Bread located at 13688 Elder Dr, Baxter, Minnesota ("Property" or "Asset"). Panera LLC. ("Tenant") is operating on an absolute NNN lease with 15 years of primary lease term, three, five-year renewal options, and 8% rent escalations every five years.

The Property is strategically located at 13688 Elder Drive in Baxter, Minnesota: the main retail and commercial center of the Brainerd Lakes market and a connector between the Twin Cities and Northern Minnesota. Serving a year-round population of nearly 70,000 that grows to over 200,000 during peak seasons, the area’s surging housing market features high-end single-family developments such as Liberty Village and Class-A multifamily projects such as Timberline Heights. This rapid growth is anchored by a highly diversified regional economy powered by major healthcare providers and professional services such as Essentia Health and Ascensus further supported robust manufacturing and Central Lakes College.

The site has visibility from the high-traffic corner of Highway 210 West and Great River Road, which together carry ±55,700 vehicles per day. The site sits in a region which has seen a 57% population growth since 2010, and experiences a 76% increase in its daytime population, driven by local employment and retail draws in the nearby region. It is located as an outparcel to Costco Wholesale, which brings in 2.2 million annual visitors. The Walmart just south on Great River Road adds an additional 3.2 million annual visitors and ranks as the #2 Walmart in Minnesota (Placer.ai). Other major national retailers in the area include The Home Depot, Kohl’s, Fleet Farm, Menards and Target.