Irving, TX - 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, Starbucks investment property located in Irving, Texas. The tenant, Starbucks Corporation, recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The Starbucks is located near the signalized, hard-corner intersection of Las Colinas Blvd and N MacArthur Blvd, combining to average over 68,600 vehicles passing by daily. N MacArthur Blvd is a major retail thoroughfare serving the city of Irving. The site is also right off of President George Bush Tpke, which averages over 109,000 vehicles passing by daily. The Starbucks is located directly across from MacArthur Park, a 502,000+ square foot shopping center, complete with tenants including Target, Kroger, Michaels, TJ Maxx, Ross, and a Chipotle pad. The asset is adjacent to MacArthur Crossing, a 99,000+ square foot shopping center, including Sprouts, Total Wine, and a strong mix of local tenants. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Sam’s Club, Kohl’s, Home Depot, Whole Foods, LifeTime Fitness, Planet Fitness, Chick-fil-A, In-N-Out, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by approximately 232,000 residents and 245,100 employees. Residents within 1 mile of the subject property boast an affluent average household income of $154,239.