Chipotle / Starbucks | Trophy Asset - Tampa, Florida

Highlights:

• Trophy property in an A+ Location
• New Construction
• Both Tenants have 10–year initial Lease Terms
• NNN Lease Structure – Landlord Responsible for only Roof and Structure

Description:

We are pleased to offer for sale on an exclusive basis to qualified investors a trophy retail property featuring the highly–recognized tenants of Starbucks and Chipotle. Located in an A+ “infill” area along Tampa’s most desirable business corridor, Dale Mabry Highway, this highly–visible location is exposed to nearly 70,000 vehicles per day and is just 1/3rd a mile north of I–275 which is traveled by approximately 180,000 vehicle per day. It is surrounded by retailers such as Whole Foods, Target, Walmart, Home Depot, Best Buy, and Staples as well as 20,000 employees and 10,000 residents within 1 mile and 143,000 employees and 95,000 residents within 3 miles. Both tenants have committed to 10–year leases. Both Starbucks and Chipotle opened for business mid-2015.

Starbucks is the premier roaster, marketer and retailer of specialty coffee in the world, operating in 65 countries, and its brand is one of the most recognizable in the world. In 2014, Starbucks’ revenue reached a company record of $16.45 billion and the number of Starbucks locations had reached over 21 thousand stores worldwide. Starbucks is the dominant leader in the coffeehouse market with over 33% market share – double that of its closest competitor. Starbucks is publically– traded as SBUX on the NYYSE with a market capitalization of nearly $80 billion and has a Standard & Poor’s credit rating of A–.

Chipotle Mexican Grill is the leading Mexican fare fast–casual concept with over 1750 locations worldwide and revenues that topped $4.1 billion in 2014. The company sales have grown at a 25% compounded rate of return annually over the last decade. Chipotle Mexican Grill is publically–traded as CMG on the NYSE with a market capitalization of nearly $9 billion.

Furthermore the adjacent Howard Johnson hotel is in the process of being developed into a Holiday Inn express prototype with additional 12,000 of retail NO DRIVE THRU
This is an exceptional asset at an irreplaceable location. The Starbucks drive thru has a consistent average waiting queue of 3-6 cars at peak times the queue wraps around the property. This is a very high volume store for Chipotle as well. The icing on the cake is the Billboard sign.

Below are a key points I would like to call your attention to:
- All three leases call for fixed rental increases.
- Walking Distance to Raymond James Stadium, George Steinbrenner Field, Highway 275(182,000 VPD)
- Raymond James Stadium is hosting Super Bowl LV in 2021.
- Less than a mile away from Westshore business district, which is a principal business district of Tampa, Florida, United States, with more than 11,000,000 square feet (1,000,000 m2) of commercial office space, 4,000 businesses with nearly 100,000 employees, 32 hotels,