Northmarq completes $2.84M sale of Panera Bread single-tenant property in Kissimmee, FL
KISSIMMEE, Fla. (Oct. 18, 2024) — Tom Georges, vice president of Commercial Investment Sales in Northmarq’s New York City office, successfully brokered the sale of a single-tenant retail property leased to Panera Bread for $2.84 million. Located at 2705 W. Osceola Parkway in Kissimmee, Florida, the property was built in 2018 and features 3,803 sq. ft. The tenant operates on an absolute NNN ground lease.
Georges represented the buyer, a New Jersey-based family office. The seller was an Orlando, Florida-based owner.
“Although the transaction was complicated by parking and easement issues, we worked thoroughly to find a satisfactory solution between the buyer and the seller,” said Georges.
The Panera Bread property boasts an ideal location at the signalized hard corner of Osceola Parkway and Dyer Boulevard in greater Orlando’s Loop trade area, a top regional retail hub and high-growth market. The single-tenant freestanding property is adjacent to The Loop and Loop West, which span a combined 900,000 square feet of retail, dining and entertainment with national tenants such as Regal Cinema, TJ Maxx and Chick-Fil-A. In addition, the casual dining restaurant is directly across from a Publix-owned-and anchored-retail center.
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