Marcus & Millichap is pleased to offer for sale the fee simple interest in 743 Lynnhaven Parkway (the Property), a 4,450-square-foot Panera Bread restaurant in which Panera has 11 years remaining on their triple-net ground lease. The tenant has operated at Lynnhaven Mall for over 15 years and executed a new 15-year lease when the restaurant moved to this freestanding build-to-suit drive-through location in 2021. The rent increases 10 percent every 5 years in the firm term and in the first and second 5-year renewal options, and it increases 15 percent in the third 5-year option to offset inflation. The lease is corporately guaranteed by Panera, which is privately held by JAB Holding Company with plans for an eventual IPO. Panera has visibility to over 59,000 weekday drivers and is strategically located on an outparcel to Lynnhaven Mall, the largest shopping center in southeast Virginia with 1.2 million square feet of retail space and over 130 retailers. It sits five miles west of the Atlantic Ocean beaches, which draw over 11 million tourists annually, and within a mile of Naval Air Station Oceana, which, together with Joint Expeditionary Base Little Creek-Fort Story, employ approximately 51,483 service members and civilian employees. Artificial intelligence and cybersecurity company DOMA Technologies is building a new $3.7 million 69,000-square-foot headquarters 1.5 miles from Lynnhaven Mall, and Amazon plans to open a 219,000-square-foot delivery station just over four miles away in time for the 2024 holiday shopping season. The mall is within two miles of Interstate 264 and U.S. Highway 58 and served by Hampton Roads Transit buses 026 and 029.