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 29,000 locations and $26.51 billion in annual revenue
» 2021 construction featuring upgraded construction and dedicated drive-thru, boosting sales revenue and catering to traffic on State Highway 183/Airport Freeway

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED RETAIL CORRIDOR
» High-visibility location on West Airport Freeway (13,475 AADT)
» Located along State Route 183/Airport Freeway, a major east-west thoroughfare traversing the entirety of Irving (165,205 AADT)
» Surrounded by highly trafficked Texas thoroughfares, including Esters Road, North Belt Line Road, and State Highway 161 (combined 182,199 AADT), increasing traffic to the site
» 255,569 residents live within a five-mile radius of the property, establishing regular local traffic and shopping to the site
» Projected nine percent average household income increase within five miles of the site in the next five years, poising Starbucks and Irving for concurrent growth

INFILL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Infill location surrounded by several national retailers, including Walmart Supercenter, El Pollo Loco, McDonald’s, Burger King, Best Buy, Denny’s, and many more, promoting crossover shopping to the location
» Near major employment centers – approximately 165,000 daytime employees within a five-mile radius
» Adjacent to one of the highest-grossing Walmart Supercenters in Texas with cross-access between parking lots
» Six miles from Dallas/Fort Worth International Airport, the busiest airport in Texas, serving over 64 million passengers annually and over 10 hotels within a two mile radius
» Texas has no State Income Tax, Estate Tax, or Inheritance Tax

Property Description

SOLD

The property is located on West Airport Freeway, with excellent access and visibility to 13,475 vehicles per day directly in front of the location. The property is located just off of the heavily trafficked State Route 183/Airport Freeway, which experiences a traffic count of 165,205 vehicles per day near the site. The location is also surrounded by several other highly trafficked Texas thoroughfares, including Esters Road, North Belt Line Road, and State Highway 161 (combined 182,199 AADT), increasing traffic to the site. The site is located in a densely populated area, with 255,569 residents living within a five-mile radius of the property, establishing regular local traffic and shopping to the site. With a projected nine percent average household income increase within five miles of the site in the next five years, Starbucks and Irving are poised for significant concurrent growth.

The property benefits from its location near large employers, retailers, and community hubs. The location is adjacent and with direct cross access to one of the highest-grossing Walmart Supercenters in Texas and is surrounded by several large retail centers featuring major national tenants, including El Pollo Loco, McDonald’s, Burger King, Best Buy, Denny’s, and many more. Irving Mall is directly across from the site, which features over one million square feet of retail area and is anchored by Dillard’s, Macy’s, Sears, and Burlington Coat Factory. The property also maintains a beneficial proximity to Dallas/Fort Worth International Airport. The airport is one of the busiest in the world and serves over 64 million passengers annually. Additionally, Downtown Dallas is approximately 15 miles from the site.