Starbucks

Highlights:

• New Construction Drive-Thru Starbucks (NYSE: SBUX) Interstate 80 Freeway location
• Interstate 80 Freeway: 2nd largest interstate freeway in the U.S.
• Adjacent Casey’s: 591,900+ visitors in the last 12 months (23rd best out of 539 locations in the chain, per Placer.ai)
• Proximate to local high school, community college, MercyOne Medical Center and Iowa Speedway
• Iowa Speedway: famous NASCAR and INDYCAR venue (125,000+ attendees per year) and “the Fastest Short Track on the Planet”
• Des Moines IA MSA has grown 15.6% from 2013-2023, which outpaces Chicago, Minneapolis, Kansas City, St. Louis, Omaha, etc. (DSM Partnership.com)
• #2 Best Place for Young Professionals (Forbes, 2024)
• #3 Best Market for Recent College Graduates (Zillow, 2023)
• #7 Safest City to Live in the U.S. (U.S. News & World Report, 2024)
• Long Term Lease with Corporate Starbucks (NYSE: SBUX) with no early termination right
• Net Lease Structure: ease of management for investor
• Drive-thru equipped building on freestanding 0.66 acre parcel

Description:

We are pleased to present the rare opportunity to acquire a brand new, drive-thru, long term net leased (fee simple interest) Starbucks investment property in Newton, IA. The subject property, which celebrated its Grand Opening in March 2024, is strategically located adjacent to Interstate 80 in high-growth Des Moines IA MSA. This interstate freeway is the only east/west transcontinental interstate highway in the United States and runs for more than 3,000 miles, connecting California to New Jersey. This quick-service coffee restaurant has commenced a 10 year lease with 7.5% rental increases occurring every 5 years of the lease term. The corporately executed lease with Starbucks has minimal landlord responsibilities, which makes it the ideal investment opportunity for a passive or out-of-state investor looking for a high-performing QSR tenant with the number one Coffee QSR brand in the world.

The subject Starbucks property services the residents of Newton, travelers/commuters on the Interstate 80 freeway, and visitors for the INDYCAR/NASCAR races occurring nearby at the Iowa Speedway. This location also benefits from the synergy created by adjacent QSR/Convenience brands including Casey’s General Store (591,900 visitors in the last 12 months, per Placer.ai), Taco Bell, Hardee’s, and Culver’s. Newton has more than 26,000 residents within a 10-mile radius and is located 28 miles from downtown Des Moines IA, the capital city of Iowa. Des Moines IA MSA has grown a tremendous 15.6% in the last decade, which outpaces other top Midwest markets including Chicago, Minneapolis, Kansas City, St. Louis, and Omaha.

Newton, Iowa, is a vibrant community located in Jasper County, roughly 30 miles east of Des Moines along Interstate 80. With a population of around 15,000, Newton combines the
charm of small-town living with access to modern conveniences and cultural attractions. The city has a deep industrial heritage, largely shaped by the Maytag Corporation, which
operated in Newton for over a century. This legacy is preserved in local landmarks, including the Maytag Dairy Farms and the Jasper County Historical Museum, which showcase the
area’s economic and cultural evolution.
Newton’s downtown area is a hub of activity, featuring historic architecture, unique shops, local eateries, and regular events such as farmers’ markets and seasonal festivals. The iconic
Jasper County Courthouse, located in the heart of the city, serves as both a functional government building and a testament to Newton’s historic roots. Newton is also home to the
Iowa Speedway, a premier destination for motorsports fans, drawing visitors from across the region for NASCAR and other racing events.
Outdoor enthusiasts can explore the city’s well-maintained parks and trails, including Agnes Patterson Memorial Park and the Newton Arboretum & Botanical Gardens, which offer
opportunities for walking, picnicking, and family recreation. Additionally, Newton is known for its strong emphasis on education and community involvement, supported by quality
schools and organizations dedicated to fostering civic engagement.
As a community-focused city with a rich history, affordable living, and a convenient location near Des Moines, Newton appeals to residents and visitors alike, offering a unique blend
of heritage, culture, and modern amenities.