Starbucks & Pacific Dental

164 Southwest Campus Drive, Federal Way, WA

$3,732,000

Price

5.35%

Cap Rate

$199,680

NOI

Overview
Cap Rate
5.35%
NOI
$199,680
Building Size
4,980 sqft
Lot Area
1.16 acres
Year Built
2019
Description

New Construction Two-Tenant NNN Drive-Thru Pad to Grocery Anchored Shopping Center:
- Starbucks

- Brand new 10-year lease

- 10% increases every 5 years

- Corporate guaranteed Starbucks lease (NASDAQ: SBUX, S&P: BBB+)

- Pacific Dental Services

- Brand new 10-year lease

- Rare 3% annual increases

- One of the nation’s largest private dental companies with over 750+ locations in 20 states; plans to add more than 80 offices each year

- $1.4 billion revenue in 2018; $1.65 billion revenue estimated for 2019




Irreplaceable Location at the Signalized Entrance to the Shopping Center: Strategically located between both main entrances to WinCo Foods anchored shopping center



Located on Primary Retail Corridor with Close Proximity to I-5: 1 mile from I-5, a well-traveled freeway connecting Federal Way to Seattle and Tacoma




Dense, Affluent Demographics: More than 188,000 people and $93,000 AHHI within a 5-mile radius of the subject property



Seattle-Tacoma MSA (12 minutes to Tacoma; 25 minutes to Downtown Seattle):

- Over 3.8 million people and growing (14th largest MSA in the U.S.)

- #1 “Best Places for Business and Careers” by Forbes (2018)

- 30-minute drive to Seattle Tacoma International Airport

Documents
Title
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Location
Gallery