• The tenant recently executed a brand new 15-year lease with 3 (5-year) renewal options, demonstrating long-term commitment to the site • The lease features a 5.50% rental increases after the first year then 10% increase every five years throughout both the primary term and all option periods, providing predictable NOI growth and a built-in hedge against inflation • Panera Bread operates more than 2,200 bakery-cafés across the United States and is pursuing its Panera RISE growth strategy, which targets more than $7 billion in systemwide sales by 2028 (Article Link)