Euless, Texas — The Boulder Group has arranged the $2.7 million sale of a single-tenant Panera Bread ground lease located in Euless.
The newly constructed Panera Bread is an outparcel to the 194-acre Glade Parks development. Tenants at Glade Parks include Belk, Dick’s Sporting Goods, Dave & Busters, Michael’s and other national retailers.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwestern developer, and the buyer, a Florida-based private investor utilizing a 1031 tax-deferred exchange, in the transaction. The Panera Bread ground lease is for 15 years and features 10 percent rental escalations every five years.