Starbucks

Highlights:

• New 10 Year Lease: Demonstrating commitment to and performance at this location
• Corporate Lease Guaranty: The lease is corporately guaranteed by Starbucks, the largest coffeehouse chain in the world with approximately 33,833 locations, reporting 2022 sales of over $32 billion
• Investment-Grade Tenant and Publicly Traded: Starbucks currently holds an Investment-Grade Standard & Poor’s Credit Rating of BBB+ | (NASDAQ:SBUX)
• Proven Location: Established Starbucks location with over 15 years of operating history located in established and growing trade area
• Highly Visible and Easily Accessible: Ideally located with excellent frontage and visibility at the hard-signaled intersection of N Eastman Rd and Hawkins Pkwy (combined traffic counts of over 44,000 ADT) with multiple points of ingress/egress
• Freestanding Drive-Thru Location: Property features a drive-thru component, an essential part of any tenant’s success, especially throughout the recent pandemic
• Intrinsic Value: Texas is an income tax free state

Description:

CIRE Partners is pleased to present a single-tenant net leased investment opportunity in Longview, Texas. This property is occupied by Starbucks and located at 3073 North Eastman Rd. The site consists of a ±1,750 square foot drive-thru building on a ±1.19 acre corner parcel of land. Starbucks has operated at this location for approximately 15 years and recently extended their lease, demonstrating their commitment to and performance at this location. Starbucks is the largest coffeehouse chain in the world with approximately 33,833 locations. Starbucks is publicly traded (NASDAQ:SBUX) and has an investment-grade Standard & Poor’s rating of BBB+.

Starbucks is renowned for its high-quality coffee and exceptional customer service, making it a household name that people return to frequently for their daily caffeine fix. The strategic location of this property is an added advantage, situated in a high-traffic area with significant foot and vehicular traffic flow. This visibility will augment the potential for customer attraction and retention for the Starbucks Coffee location. Situated on a corner signalized intersection with over 44,000 ADT, the property perfectly situated for maximum exposure and accessibility. With this property’s location in Longview TX, the investor can tap into the increasing demand for coffee in the area. There are currently over 10 years remaining on the corporate-backed lease, offering investors a safe and an easy-to-manage ownership structure for many years to come.

Broker of Record: Congress Realty, Inc. TX License #0561973

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