Lake Charles, LA - Starbucks

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, brand new construction, corporate guaranteed (NYSE: SBUX), investment grade (S&P: BBB+), Starbucks investment property located in Moss Bluff, Louisiana (Lake Charles MSA). The tenant, Starbucks Corporation, has 12+ years remaining on their initial lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rent increase in year 11, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof, exterior structure, foundation, and parking lot. The newly-constructed building features a state-of-the-art design with high-quality materials. Starbucks, with a global footprint of more than 41,000 company-operated and licensed coffeehouses and a growing presence in consumer-packaged goods, they are the world’s premier purveyor of specialty coffee.

The Starbucks is strategically located Sam Houston Jones Pkwy with over 19,700 vehicles passing by daily. The subject property is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Walmart Neighborhood Market, Popeyes, Dollar General, Circle K, Advance Auto Parts, Burger King, McDonald’s, Sonic, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site benefits from close proximity to Moss Bluff Middle School (817 students) and Sam Houston High School (1,206 students), further increasing consumer traffic to the site. The 5-mile trade area is supported by over 43,000 residents and 9,000 employees, providing a direct consumer base from which to draw. Residents within a 1-mile radius of the subject property boast an affluent average household income of $130,631.

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Listing ID: a28TP000003WWW5YAO