Galloway, NJ - Starbucks

Description:

• The tenant has 9 years of firm term remaining on lease with an additional
4 (5-year) option periods left to extend
• The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation
• The lease is guaranteed by the corporate entity (NASDAQ: SBUX | S&P: BBB+)
• Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with over 40,200 operating locations worldwide

• The asset is ideally situated within a dense retail trade area
• The surrounding tenants include ShopRite, ACE Hardware, Wawa, CVS Pharmacy, TD Bank, Burger King, and many others
• The adjacent ShopRite is among the most visited grocery stores within
15- miles with 1.2M annual visits (Feb. 2024 - Jan. 2025, per Placer.ai)
• The property is also down the street from Seaview Golf Club and Galloway National Golf Club, 2 national courses
• The tenants and attractions drive a steady stream of loyal, local consumers to the area, promoting crossover exposure and contributing to the economy
• Strategically located along E. Jimmie Leeds Road with clear visibility and access to an average of 15,600 vehicles passing by daily
• E. Jimmie Leeds Road directly connects to U.S. Highway 9 and Garden State Parkway, making this a centralized location with easy access
• The freestanding building is equipped with a drive-thru, providing ease and convenience for customers
• The asset has excellent visibility and multiple points of ingress/egress, minimizing parking lot congestion