Belleview, FL - Starbucks

Description:

• Starbucks recently signed a brand new 10-year lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• 2025 construction which features high-quality materials, high-level finishes, and distinct Starbucks design elements
• The lease is corporate signed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 40,200 stores
• The lease features 10% rental increases every 5 years and at the beginning of each option

• Starbucks is ideally fronting US-441 averaging 31,500 VPD
• Part of larger development that will feature a brand new Chipotle drive-thru
• Across from Belleview Regional Center, a Publix and Dollar Tree anchored shopping center
• The Publix ranks in the 82nd percentile (238 out of 1,355) of all nationwide locations via Placer.ai
• The immediate 1-mile trade area has seen several new retail users added to the corridor’s tenant mix such as Take 5, Zaxby’s, Mavis, Tidal Wave Car Wash, FreeUp Storage, Ace Hardware, and more
• There is a new $71M retail development being proposed just South of the subject site, which will include a 171,000 SF wholesale club, a c-store, and
~12,500 SF of retail space spread across 4 outparcels