Lakewood, CO - Starbucks

Description:

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Starbucks investment property located in Lakewood, Colorado. The tenant, Starbucks, has approximately 10 years remaining on their current lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.50% 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 minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Starbucks is the largest coffee retailer in the world, with over 40,000 locations in 80 countries.

The property is located at the intersection of W Colfax Ave and Kipling St with a combined (79,000 VPD). W Colfax Ave, is a major retail thoroughfare serving the Denver MSA. This specific location features the first ever double drive through in Colorado and is also a relocation property from the site directly next door. In addition, the asset is positioned about 2.5 miles northeast of Colorado Mills, a 1,366,000 square foot shopping center which features national/credit tenants including Dick’s Sporting Goods, Target, Burlington, and more. Furthermore, Starbucks is situated 3 miles northeast of Denver West Village, a 338,000 square foot Whole Foods, Barnes & Noble, and Marshalls anchored center. Moreover, the property is located less than a mile east of Westland Town Center, a 507,000 square foot center anchored by Lowe’s Home Improvement and Dollar Tree. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Sprouts Market, T.J. Maxx, Ross Dress for Less, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 322,100 with an affluent average household income of $128,490.