Overview

Description

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a newly constructed, investment grade (S&P: BBB+), corporate guaranteed (NYSE: SBUX) Starbucks investment property located in Tucson, Arizona. The tenant, Starbucks Corporation, recently signed a new 10 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease has minimal landlord responsibilities making it an ideal, limited-management investment opportunity for a passive investor.

The investment is strategically located at the signalized, hard corner intersection of East Grant Road and North Campbell Avenue with a combined 90,200 vehicles passing daily. Starbucks has excellent visibility and access along North Campbell Avenue which is a major retail thoroughfare serving Tucson. Starbucks is located
at an ideal intersection along the major thoroughfares and is nearby an Albertsons anchored shopping center and the University of Arizona. The asset will benefit tremendously from its position 1.5 miles from the University. Boasting over 51,000 students, the University of Arizona is among the largest universities in the country and serves as a fixture for the city of Tucson - the second largest city in Arizona. The subject property is in close proximity to the University Medical Center of Tucson - one of the top medical centers in the state and the leading emergency and pediatric care provider in southern Arizona. The medical center encompasses over 1 million square feet of medical facilities and serves over 200,000 patients annually. The 5-mile trade area is supported by a population of over 273,000 residents and 194,000 employees with an average household income over $71,000.

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