Investment Highlights

10-YEAR CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT-GRADE, SINGLE-TENANT ASSET
» 10-year corporate net lease to Starbucks Corporation
» 10% fixed rental increases every five years in the initial term and 7.5% increases in each option, 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 33,833 locations and $29.1 billion in annual revenue

INFILL LOCATION NEAR MAJOR AREA EMPLOYERS
» Strategic high-visibility location on North Hardin Boulevard (11,084 AADT) near the signalized hard-corner intersection of U.S. 380/West University Drive (38,982 AADT)
» Beneficial proximity to U.S. Highway 75/Sam Johnson Highway with access to 123,413 vehicles per day
» Across from Raytheon Company, the largest employer in McKinney with 2,725 employees
» Infill location surrounded by several national retailers, including Sam’s Club, Walmart Supercenter, Kroger, Target, Best Buy, The Home Depot, Lowe’s Home Improvement, and many more
» Walking distance to Cockrill Middle School (1,263 students) and minutes from many well-attended schools including McKinney High School (2,964 students), McKinney Boyd High School (2,834 students), and more
» Ideal location with proximity to Collin College (52,812 students, 2,631 employees), establishing a reliable customer base for the site
» Less than two miles from Baylor Scott & White Medical Center (143 beds, 738 employees), a major area employer providing crossover traffic in the area

POPULOUS AND AFFLUENT COMMUNITY POISED FOR GROWTH
» Near many single-family homes and large apartment complexes including Ashton Oaks Apartments (168 units) and Retreat at Stonebridge Ranch Apartments (460 units)
» 181,993 residents live within five miles (44% population growth since 2010)
» Average annual household income of $116,428 within a three-mile radius (over $110k within one-, three- and five-mile radii) and projected to increase 10 percent by 2026
» 36 miles from Dallas (1.3 million residents), the third-most populous city in Texas, and 60 miles from Fort Worth (918,915 residents)

NEW 2022 CONSTRUCTION IN TAX FREE STATE
» New building featuring outdoor seating and dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Texas has no state income tax, estate tax, or inheritance tax

Property Description

SOLD

This Starbucks is located on North Hardin Boulevard (11,084 AADT) near the signalized hard-corner intersection of U.S. 380/West University Drive (38,982 AADT). The property maintains beneficial proximity to the highly trafficked McKinney thoroughfare U.S. Highway 75/Sam Johnson Highway with access to 123,413 vehicles per day. The site is across from Fairfield Inn & Suites by Marriott Dallas McKinney (105 rooms) and Raytheon Company, the largest employer in McKinney with 2,725 employees. The property is an infill location surrounded by several national retailers, including Sam’s Club, Walmart Supercenter, Kroger, Target, Best Buy, The Home Depot, Lowe’s Home Improvement, and numerous others. The site is within walking distance of Cockrill Middle School (1,263 students) and minutes from many well-attended schools including McKinney High School (2,964 students), McKinney Boyd High School (2,834 students), and more.

The property is in an ideal location with proximity to Collin College (52,812 students, 2,631 employees), establishing a reliable customer base for the site. The property is less than two miles from Baylor Scott & White Medical Center (143 beds, 738 employees), a major area employer providing crossover traffic in the area. The site is situated near many single-family homes and large apartment complexes including Ashton Oaks Apartments (168 units) and Retreat at Stonebridge Ranch Apartments (460 units). The area is densely populated with 181,993 residents living within five miles (a 44 percent population growth since 2010). The community is affluent with an average annual household income of $116,428 within a three-mile radius (over $110k within one-, three- and five-mile radii) and is projected to increase 10 percent by 2026, poising Starbucks and McKinney for concurrent growth. The site is 36 miles from Dallas (1.3 million residents), the third-most populous city in Texas, and 60 miles from Fort Worth (918,915 residents).