Hanley Investment Group, NAI DESCO Arrange $3.3 Million Sale of New Panera Bread Drive-Thru in Plattsburgh, New York, to 1031 Exchange Buyer in California
PLATTSBURGH, NY – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, and commercial brokerage firm NAI DESCO, announced today the sale of a single-tenant net-lease property occupied by Panera Bread Drive-Thru in Plattsburgh, New York, for $3.3 million.
Hanley Investment Group’s Executive Vice President and Partner Jeff Lefko and Executive Vice President Bill Asher, and Senior Vice President, Stephen Gwinnup, with NAI DESCO in Clayton, Missouri, in association with Brian Brockman & Bang Realty-New York, Inc., represented the seller, a private family trust. The buyer, represented by Bang Realty in association with Hanley Investment Group, was a private 1031 exchange buyer based in San Francisco Bay Area.
“We partnered with a regional relationship broker who brought us in for our national reach and access to private investors,” said Lefko. “We were under a tight timeline and needed to execute within 60 days.”
Hanley Investment Group also arranged permanent financing through a repeat net-lease lender.
“This was a relocation store with exceptional reported sales and a rare absolute triple-net lease,” Lefko added.
The 4,373-square-foot Panera Bread, built in 2020, is located on 1.08 acres at 408 Route 3 in Plattsburgh. The property features a corporate absolute triple-net lease with minimal landlord responsibilities and a 15-year initial term, with nine years remaining. As a corporate relocation site with a drive-thru, the store reflects Panera’s long-term commitment to the Plattsburgh trade area, the primary commercial hub for the Northern Adirondack region.
Panera Bread operates more than 2,200 bakery-cafes across 48 states, Washington, D.C., and Ontario, Canada. The brand ranks No. 12 on Restaurant Business’ Top 500 Chain Restaurant Report (2025) and No. 12 on QSR Magazine’s QSR 50 (2025), and is consistently recognized as a leader in fast-casual dining, digital convenience and loyalty engagement.
The property is five minutes (1.3 miles) from Plattsburgh’s largest employer, UVM Health Network — Champlain Valley Physicians Hospital, which has 2,100 employees. It is less than three miles from the State University of New York at Plattsburgh, home to 4,333 students and more than 1,200 employees.
The site offers excellent visibility along NY-3 (30,000+ cars per day) and immediate access to Interstate 87. It is positioned in the heart of Plattsburgh’s main retail corridor, directly across from Plattsburgh Consumer Square, a Walmart- and Sam’s Club- anchored center generating 5.9 million annual visits (Placer.ai).
Surrounding national retailers include Lowe’s, Hobby Lobby, Target, ALDI, HomeGoods, T.J. Maxx, Kohl’s, Chick-fil-A, Chipotle Mexican Grill, Five Guys, McDonald’s, Starbucks, Wendy’s and more.
Plattsburgh serves as the commercial center for the Northern Adirondack Mountains and is located approximately 60 minutes from Montréal, Canada’s second-largest city. The city is a major cross-border trade hub, with significant commuter and retail activity flowing between Québec and upstate New York.
Panera Brands is one of the world’s largest fast-casual restaurant platforms, with more than 3,700 company- and franchise-operated locations across 11 countries. The portfolio includes Panera Bread®, Caribou Coffee® and Einstein Bros. Brands, supported by industry-leading digital infrastructure, loyalty engagement and high-quality ingredients.
“Fast-casual restaurants remain a top performer in the single-tenant market. Consistent sales, resilient customer demand and long-term corporate leases make these assets highly attractive to private and 1031 exchange buyers nationwide,” said Lefko.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a transaction track record of $12.8 billion, specializing in the sale of retail properties nationwide. The firm’s expertise, proven track record spanning more than 20 years, and dedication to putting clients’ needs first set it apart in the industry. Hanley Investment Group creates value by delivering exceptional results through property‑specific marketing strategies, cutting-edge technology and local market knowledge. Hanley Investment Group’s relationships with investors, developers, institutions, franchisees, brokers and 1031 exchange buyers translate into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.
For more information, visit www.hanleyinvestmentgroup.com.
Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Jeff Lefko, Executive Vice President & Partner
Email: Send Email
Phone: 949.585.7682
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/
