Odessa, FL - Starbucks

Description:

• The lease is corporate signed by Starbucks, an investment grade (S&P: BBB), nationally recognized, and established firm with over 36,000 stores as of August 2023
• The lease features 10% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation
• 10% Rental Increase scheduled for April of 2024, resulting in immediate revenue growth for the potential buyer
• 5+ years remain on the original lease term with 4 (5-year) option periods to extend

• Starbucks is strategically located in the newly developed Trinity Lakes Crossing which includes other national/credit tenants such as Burger King, Express Oil Change, Achieva, Wawa, AutoZone, Take 5 Car Wash and more
• The asset benefits from significant street frontage on the signalized, hard corner intersection of FL-54 (62,500 VPD) and Trinity Blvd (14,900 VPD)
• State Highway 54 is a major East and West thoroughfare connecting Hillsborough to Pasco County