A new Panera Bread is sprouting up on a long-vacant parcel in the North Haven Crossing area, a project that has been in the works since before the pandemic.Longtime property owner Cinemark LLC sold the site at 550 Universal Drive on Oct. 11 for $2.5 million to Executive Two Hundred LLC and principal Joseph Moruzzi, […]
A new Panera Bread is sprouting up on a long-vacant parcel in the North Haven Crossing area, a project that has been in the works since before the pandemic.
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Longtime property owner Cinemark LLC sold the site at 550 Universal Drive on Oct. 11 for $2.5 million to Executive Two Hundred LLC and principal Joseph Moruzzi, a private investor.
Panera Bread is a chain restaurant that features breads, sandwiches, soups and pastries.
Cinemark secured Panera as a tenant back when construction started in 2020. Cinemark is also the developer for the new Panera.
The new 3,800-square-foot shop is set on 1 acre in a coveted retail area, according to the listing agents from CP Partners based out of California.
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The Panera is near Cinemark, North Haven Crossing, BJs Wholesale Club, Target, Big Lots, The Home Depot, Dick’s Sporting Goods and numerous other national retail outlets.
Panera has been paying rent on the site since the groundbreaking even though the project has been set back with delays, mainly due to supply chain problems.
“But they were committed to this site before taking occupancy,” said Kirby Dierdan of CP Partners.
“Panera really liked the location,” with a bustling retail area around it, Dierdan said. A Hampton Inn is also planned for the property.
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Operators expect construction to wrap up soon and for the Panera to be operational by the end of the year.
