Investment Highlights

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for 10 years, plus six (6) 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 29,000 locations and $26.5 billion in annual revenue
» 2020 construction, featuring an upgraded construction and dedicated drive-thru, boosting sales revenue and catering to traffic along U.S. Route 421/East Cumberland Street

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED AND GROWING CORRIDOR
» High-visibility location along U.S. Route 421/East Cumberland Street, with access to 20,500 vehicles per day directly in front of the location
» Immediate access to Interstate 95 (59,500 AADT), greatly increasing visibility and traffic to the location
» Population of 105,376 within a 15-mile radius of the location, creating a large customer base for the site
» Projected six percent increase in households and families within 15 miles of the site in the next five years, poising Starbucks and Dunn for significant concurrent growth
» 11 percent population increase within 15 miles of the site since 2010, illustrating the area’s significant growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of national retailers near Downtown Dunn, including Taco Bell, Subway, Burger King, Bojangle’s, Speedway, McDonald’s, Cracker Barrell Old Country Store, and many more
» Three miles from one of Dunn’s largest employers, Food Lion Distribution Center (1,000+ employees)
» 2.5 miles from Betsy Johnson Hospital (126 beds, 750 employees)
» Within walking distance of six hotels, greatly increasing foot traffic to the location
» Centrally located between Raleigh (capital of North Carolina) and Fayetteville (largest metropolitan area in southeastern North Carolina)

Property Description

SOLD

Visibility to the property is increased by the site’s centralized location in a densely populated and growing retail corridor. The site has a high-visibility location along U.S. Route 421/East Cumberland Street, with access to 20,500 vehicles per day directly in front of the location. The property also maintains immediate access to Interstate 95 (59,500 AADT), greatly increasing visibility and traffic to the location. 105,376 residents live within a 15-mile radius of the location, establishing a large regular customer base for the site. The site is located in an area that has experienced rapid growth in recent years, with an 11 percent population increase within 15 miles of the site since 2010. The property is also primed to grow along with the surrounding area, with a projected six percent increase in households and families within 15 miles of the site in the next five years.

Traffic to the site is greatly increased by its central location near large employers, retailers, and community hubs. The property is surrounded by a strong mix of national retailers near Downtown Dunn, including Taco Bell, Subway, Burger King, Bojangle’s, Speedway, McDonald’s, Cracker Barrell Old Country Store, and many more. The site is also 2.5 miles from Betsy Johnson Hospital (126 beds, 750 employees) and three miles from one of Dunn’s largest employers, Food Lion Distribution Center (1,000+ employees). The property resides within walking distance of six hotels, greatly increasing foot traffic to the location. The site also serves as a gateway to Raleigh (Capital of North Carolina) and Fayetteville (largest metropolitan area in southeastern North Carolina).