Investment Highlights

HIGH-QUALITY, INVESTMENT GRADE SINGLE TENANT ASSET
» Leased to and guaranteed by Starbucks Corporation, rated “BBB+” by Standard & Poor’s
» Relocation site from in-line store with 10 years of operating history at this intersection
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» No early termination clause
» Starbucks is the premier roaster, marketer, and retailer of specialty coffee in the world, with over 29,000 locations worldwide and $24.7 billion in annual revenue

HIGH-TRAFFIC LOCATION WITH STRONG DEMOGRAPHICS
» Conveniently located at the signalized hard corner of two busy thoroughfares, with excellent visibility and access to 49,357 vehicles per day
» Located in an affluent area, with average household incomes well over $100,000, and a population of 132,322 people, within a five-mile radius

STRONG, GROWING CUSTOMER BASE IN IMMEDIATE AREA
» Directly adjacent to Folsom Lake and Folsom Lake State Recreation Area, visited by approximately two million people each year
» Close proximity to Folsom Lake College, with an enrollment of 18,308 students
» Sacramento is the third fastest growing MSA in California, with a projected growth of 55.4% over the next 30 years
» Adjacent to high performing Raley’s shopping center

NEW 2017 CONSTRUCTION
» 2017 construction with drive-thru, providing additional customer convenience and boosting sales revenue
» New building, limiting near term deference maintenance or capital costs

Property Description

SOLD
The property is in Briggs Ranch Plaza, conveniently located at the signalized hard corner of Blue Ravine Road and East Natoma Street, with a traffic count of 49,357 vehicles per day at the intersection. The shopping center features a strong mix of national and local tenants, with a number complimentary retailers. Major tenants include Dollar Tree, 99 Ranch Market, and Taco Bell. Complimentary tenants include Gong Cha, a popular Taiwan-style drink shop franchise, and Hisui Sushi. The property is located directly across from The Parkway, a large shopping center anchored by Raley’s. Other shopping centers in the nearby area include the Palladio at Broadstone, featuring Whole Foods and Nordstrom Rack, and Broadstone Plaza, anchored by Home Depot, Ashley Furniture, Babies “R” Us, and Marshalls.

The property benefits from the large customer base in the surrounding area. Folsom Lake, one of the most popular lakes in Northern California, and Folsom Lake State Recreation Area, which is visited by approximately two million people each year, are next to the property. Mercy Hospital, one of the largest employers in Folsom, and Folsom Lake College, with an enrollment of 18,308 students, are both nearby. Additionally, the property is in an affluent, densely populated area. The average household income within a one-mile radius of the property is $142,546, and 132,322 people with an average household income of $127,499 live within a five-mile radius of the property.