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1275-1285 Boardman Rd
Jackson, MI 49202
Panera Bread and Pizza Hut Ground Lease · Retail Property For Sale
Investment Highlights
- Outparcel to Jackson Crossing ±420,238 SF Retail Center
- ±20 Year Operating History for Panera & Pizza Hut at Subject Property
- Strong Sales for Both Tenants
Executive Summary
- Panera Bread and Pizza Hut drive-thru investment opportunity featuring below market rent and an absolute triple-net (NNN) ground lease with ±10 years of term remaining and two (2), five (5) year option periods.
- Panera Bread and Pizza Hut have operated at this site for approximately 20 years and have exercised an option early, showcasing their success at and commitment to this location.
- Acquisitions LLC, the master-lessee, is owned and operated by Trigo Hospitality and Joyce Lunsford, a ±50-unit operator of brands including Pizza Hut, Moe's Southwest Grill, and CoreLife Eatery.
- Bread of Life, LLC, the sub-lessee, is operated by Manna Development, a Panera Bread franchisee with ±161 units across 11 states. In Michigan, Manna Development operates ±26 Panera locations and plans to open 50 Caribou Coffee stores.
- The Property is a hard corner outparcel to Jackson Crossing, a 420,238 SF regional power center with 1.8 million annual visitors - anchored by Target, Kohl's, Bed Bath & Beyond, Best Buy, TJ Maxx, and more.
- The former Sears, directly south of the Property, was recently redeveloped into a Planet Fitness, Burlington, Buckle, and Hobby Lobby, proving the strong demand and performance of retailers in this corridor.
- The Jackson Technology Park North, a 140-acre industrial development, is located ±6 minutes north of the property. This project is attracting manufacturing and technology companies to Jackson, expanding the current employer base led by TAC Manufacturing, Inc., an international automotive parts supplier.
- The Property is located just off the intersection of I-94 (±49,632 VPD) and SR-127 (±15,084 VPD) (Source: MDOT, 24).
- A Lowe's, Home Depot, Kroger, Meijer, Sam's Club, Walmart Supercenter, Aldi, and Goodwill are nearby.
*The blended cap rate is based on the Base Rent at a 5.50% cap rate + the 2025 Percentage Rent at a 6.75% cap rate. Contact Broker for additional information on the percentage rent structure and 2025 sales.
- Panera Bread and Pizza Hut have operated at this site for approximately 20 years and have exercised an option early, showcasing their success at and commitment to this location.
- Acquisitions LLC, the master-lessee, is owned and operated by Trigo Hospitality and Joyce Lunsford, a ±50-unit operator of brands including Pizza Hut, Moe's Southwest Grill, and CoreLife Eatery.
- Bread of Life, LLC, the sub-lessee, is operated by Manna Development, a Panera Bread franchisee with ±161 units across 11 states. In Michigan, Manna Development operates ±26 Panera locations and plans to open 50 Caribou Coffee stores.
- The Property is a hard corner outparcel to Jackson Crossing, a 420,238 SF regional power center with 1.8 million annual visitors - anchored by Target, Kohl's, Bed Bath & Beyond, Best Buy, TJ Maxx, and more.
- The former Sears, directly south of the Property, was recently redeveloped into a Planet Fitness, Burlington, Buckle, and Hobby Lobby, proving the strong demand and performance of retailers in this corridor.
- The Jackson Technology Park North, a 140-acre industrial development, is located ±6 minutes north of the property. This project is attracting manufacturing and technology companies to Jackson, expanding the current employer base led by TAC Manufacturing, Inc., an international automotive parts supplier.
- The Property is located just off the intersection of I-94 (±49,632 VPD) and SR-127 (±15,084 VPD) (Source: MDOT, 24).
- A Lowe's, Home Depot, Kroger, Meijer, Sam's Club, Walmart Supercenter, Aldi, and Goodwill are nearby.
*The blended cap rate is based on the Base Rent at a 5.50% cap rate + the 2025 Percentage Rent at a 6.75% cap rate. Contact Broker for additional information on the percentage rent structure and 2025 sales.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,739 SF
Building Class
B
Year Built
2006
Price
$2,779,065
Price Per SF
$318.01
Cap Rate
5.82%
NOI
$161,764
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.91 AC
Zoning
PB
Parking
30 Spaces (3.43 Spaces per 1,000 SF Leased)
Frontage
398’ on Boardman Rd
Amenities
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 2-2473.0200 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $443,000 |
Property Taxes
Parcel Number
2-2473.0200
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$443,000
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