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RS Real Estate Partners has finalized the sale of a Panera Bread property at 5212 Moreno Street in Montclair, California. The $5.73 million ground lease transaction represents the highest price per square foot for a single-tenant net-leased Panera this year, with a price of $1,451 per square foot.

    The 3,950-square-foot property was sold by a Southern California-based developer and represented by SRS Capital Markets' Patrick Luther and Matthew Mousavi. The buyer, a private California investor completing a 1031 exchange, was represented by Compass Commercial. The closing cap rate was 5.04%, and new financing was secured during the acquisition.

    The property, situated on 0.28 acres, features a cutting-edge design and drive-thru, with 15 years remaining on its corporate-guaranteed ground lease. Its strategic location near Target and Montclair Place makes it an attractive investment opportunity in the strong Southern California submarket.

    "This Panera Bread generated significant interest from private investors seeking stable, cash-flowing assets," said Mousavi. "Its location at a signalized intersection with excellent visibility and multiple points of ingress and egress made it especially appealing to 1031 exchange buyers."

    The property benefits from strong consumer crossover traffic as an outparcel to a top-performing Target-anchored shopping center and is directly across from Montclair Place, a recently renovated indoor shopping mall.

    SRS Capital Markets has completed over $1.2 billion in deal volume this year, with more than 350 transactions nationwide. The company currently has over 845 properties actively on the market, valued at over $3.7 billion.