Panera Inks Second Site In Laurelwood

Washington Business Journal:

Panera Bread Co. franchisee Delta Dough, Inc., has signed a lease for a second location in the Memphis market and is planning 10 more stores, including a possible location in Downtown.

Panera’s second store in the market will be located in a portion of the former Walgreen Co. space at Laurelwood Shopping Center at Poplar and Perkins Extended. The 5,356-square-foot restaurant is expected to open in summer 2009, says Adam Jackson, director of operations for Delta Dough. A 5,270-square-foot Panera Bread bakery cafe will open in Cordova’s Trinity Commons Shopping Center in December.

The average asking lease rate in the Cordova submarket is $13.37 per square foot, according to the latest CB Richard Ellis Memphis MarketView report. The average asking rate is $11.10 per square foot in the East Memphis submarket.