Investment Highlights

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for 10 years, plus four (4) five-year options
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 32,000 locations and $28-29 billion in annual revenue
» 2021 construction featuring upgraded construction and dedicated drive-thru, boosting sales revenue and catering to traffic

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED AND GROWING CALIFORNIA CORRIDOR
» High-visibility location at the signalized hard-corner of State Route 156/San Felipe Road & Santa Ana Road (13,550 AADT)
» $105,653 average annual household income within five miles of the site
» Excellent location in a major commuter corridor, with proximity to several high-density single-family developments
» 55,051 residents live within a five-mile radius of the property, establishing regular local traffic and shopping to the site
» Projected 12 percent AAHI increase within five miles of the site in the next five years, poising Starbucks and Hollister for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Hard-corner location surrounded by several national retailers, including Target, Lucky, Walgreens, KFC, Taco Bell, McDonald’s, Bank of America, and many more, promoting crossover shopping to the property
» Two miles from Hazel Hawkins Memorial Hospital, Hollister’s second-largest employer (575 employees, 168 beds)
» Centrally Located near highly attended Hollister schools, including Marguerite Middle School, Ladd Lane Elementary School, and Sunnylope Elementary School (combined 1,953 students)
» Beneficial proximity to Hollister Municipal Airport located just 2.5 miles from the site

Property Description

SOLD

The property is a high-visibility location at the signalized hard corner of State Route 156/San Felipe Road & Santa Ana Road (13,550 AADT). The site is located in a growing California commuter corridor, with proximity to several high-density single-family developments. The site is located in a densely populated and affluent area, with 55,051 residents living within a five-mile radius of the property and an average annual household income of $105,653. With a projected 12 percent average household income increase within five miles of the site in the next five years, Starbucks and Hollister are poised for significant concurrent growth.

The property benefits from its central location near large employers, retailers, and community hubs. The site is surrounded by several national retailers, including Target, Lucky, Walgreens, KFC, Taco Bell, McDonald’s, Bank of America, and many more, promoting crossover shopping to the property. Hazel Hawkins Memorial Hospital (the second-largest employer in Hollister) is two miles from the site and features 168 beds and 575 employees. The site is a convenient 2.5 miles from Hollister Municipal Airport as well, significantly increasing commuter traffic to the area. The property also maintains a beneficial proximity near highly attended Hollister schools, including Marguerite Middle School, Ladd Lane Elementary School, and Sunnylope Elementary School (combined 1,953 students).