Horvath & Tremblay completes the sale of four retail properties for $11.58 million
Harrisburg, PA — Bob Horvath, Todd Tremblay and Matt Nadler have successfully completed the sale of a Panera Bread in Harrisburg. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $2.025 million, a 6.0% Cap Rate. The Panera Bread is located at 4640 High Pointe Blvd. in Harrisburg. The stand-alone building consists of 4,495 s/f and sits on 0.43 acres of land. Panera Bread has 9+ years remaining on a corporately backed, Triple-Net Ground Lease with three, 5-Year Options. The lease features 10% rent increases every five years throughout both the current term and the option periods. Panera Bread is an outparcel to High Pointe Commons, a regional shopping center anchored by Target. The property is adjacent to exit 2 on I-283, which sees more than 60,000 vehicles per day.