Lake Charles, LA - Starbucks

Description:

SRS National Net Lease Group 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 14 years remaining on their initial lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rent increase in year 6, 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 will feature a state-of-the-art design with high-quality materials.

The Starbucks is strategically located Sam Houston Jones Pkwy with over 21,000 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.