Fredericksburg, VA - Starbucks

Description:

• Early Extension with 13 years remaining with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is corporate guaranteed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 40,200 stores
• This is the only free-standing Starbucks drive-thru in the immediate trade area, with the next closest Starbucks being nearly 2 miles away
• The lease features 10% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation

• Starbucks is located at the signalized, hard corner intersection of Carl D. Silver Parkway and Cowan Boulevard
• Directly off Interstate 95 (149,000 VPD), the busiest highway on the east coast
• The asset benefits from significant street frontage and site exposure from Interstate 95
• Strategically positioned within Central Park Plaza, a 2,200,000 SF power center with 170 businesses and includes many big-box retailers such as Walmart Supercenter, Lowe’s Home Improvement, Target, Best Buy, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site

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Listing ID: a28TP000002ArxxYAC