STNL Starbucks

Highlights:

• True Investment Grade Credit (NASDAQ: SBUX)
• 10-Year NN lease with 10% rent increases every 5 years
• Rare ±1.74 Acre Parcel
• Out-parcel to a 10-Acre Master-Planned Mixed-Use development with 159 apartments
• High traffic at the W. Craig Rd. and Allen Ln. signalized intersection (±52,600 VPD)
• Located between the I-15 and I-11 Freeways (±293,000 VPD)

Description:

Colliers is pleased to exclusively offer for sale a new construction single-tenant net leased Starbucks located in North Las Vegas, NV. The property consists of a ±2,400 SF freestanding building with double drive-thru and benefits from a 10-year lease with 10% rent increases every 5 years, including options.

This newly constructed Starbucks is adjacent to a well-established freestanding CVS Pharmacy and is an out-parcel pad to a 10-Acre Master-Planned Mixed- Use development with 159 apartments that is scheduled to break ground before year-end. The site is well-positioned along the high traffic Craig Road Corridor with traffic counts in excess of ±46,000 VPD, strategically located between the I-15 and I-11 Freeways, with exposure to an additional ±293,000 VPD. This newly constructed Starbucks is adjacent to CVS Pharmacy with other nearby national co-tenants including Raising Cane’s, Smith’s, Walmart, ROSS, Burlington, Harbor Freight, Home Depot, PetSmart, Chick-fil-A and more.

The asset is in proximity to several nearby demand drivers, including Cheyenne High School (±2,110 students), Craig Ranch Regional Park (±117 AC), Theron Swainston Middle School (±1,041 students), Cannery Casino (200 rooms), Nola Sky Mixed-Use Development, and the North Las Vegas Airport. The Property is well-positioned within a high growth trade area surrounded by residential rooftops, servicing ±452,839 residents with an average annual household income of ±$98,278 within a 5-mile radius.