Lee & Associates is pleased to exclusively offer for sale the fee simple interest (land and building) in a newly constructed Panera Bread located at 8616 U.S. 31 South in Indianapolis, Indiana. The property consists of a 3,875-square-foot, 2025 build-to-suit restaurant with a drive-thru situated on approximately 1.10 acres within the Shops at Fountain Creek. Panera operates under a new 15-year corporate lease with approximately 14.6 years remaining, 10% rental increases every five years, and three additional five-year renewal options.

Panera Bread is a leading fast-casual dining concept with more than 2,000 locations and 140,000 employees across the United States and Canada. The company reported approximately $6.1 billion in revenue in 2025, providing investors with the strength of a nationally recognized restaurant brand and corporate lease guaranty. The property benefits from a prominent position along U.S. 31, which carries approximately 35,490 vehicles per day, and is surrounded by a strong mix of national retailers, restaurants, healthcare facilities, schools, and residential communities. The Shops at Fountain Creek includes Shake Shack, T-Mobile, and CAVA, further strengthening the site's retail draw.

The property is positioned within a dense Indianapolis trade area with approximately 88,668 residents within three miles and 213,965 residents within five miles. Average household income reaches approximately $92,354 within three miles and $103,965 within five miles, while annual food and beverage expenditures exceed $1.05 billion within five miles. The site is approximately 10 minutes from both I-65 and I-465, 22 minutes from Indianapolis International Airport, and 25 minutes from Indianapolis. As the economic center of central Indiana, the Indianapolis MSA has a population of approximately 2.17 million and a diversified economy supported by advanced manufacturing, life sciences, logistics, professional services, tourism, and major sporting and convention activity.