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, 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
» New 2022 construction with dedicated drive-thru for added customer convenience
» Freeway pylon signage to over 43,000 vehicles per day

HIGH-TRAFFIC LOCATION IN GROWING CALIFORNIA RETAIL CORRIDOR
» High-visibility location at the four-way intersection of South Coffee Street and Campus Parkway
» Immediate access to State Route 99/Golden State Highway (43,000 AADT)
» Located near Campus Parkway, providing direct access to UC Merced and State Route 140 (Yosemite’s all weather route from State Route 99)
» Located within Merced Gateway Retail Center, a 77-acre mixed-use commercial development to feature several shops, restaurants, entertainment venues, a fire station, and approximately 200 apartment units
» Project is expected to create approximately 2,700 new jobs and generate $30 million a year in sales tax revenue

STRONG CUSTOMER BASE POISED FOR FUTURE GROWTH
» Within walking distance of Golden Valley High School (1,716 students)
» Population of 83,808 within a five-mile radius
» Poised to benefit from growing and expanding retail trade area
» Merced’s population has grown faster than the state average since 1980
» UC Merced’s 2020 Project, a massive $1.3 billion expansion initiative, is projected to bring an additional 3,500 college students to Merced over the next three years

Property Description

SOLD

» The property is conveniently located at the four-way intersection of South Coffee Street and Campus Parkway
» The location features immediate access to State Route 99/Golden State Highway (43,000 AADT), significantly increasing traffic and visibility to the site
» This Starbucks is located within Merced Gateway Retail Center, a 77-acre mixed-use commercial development to feature several shops, restaurants, entertainment venues, a fire station, and approximately 200 apartment units
» Merced Gateway Retail Center is expected to create approximately 2,700 new jobs and generate $30 million a year in sales tax revenue
» The property is centrally located near large schools and major employers. The site is walking distance from Golden Valley High School (1,716 students) and 8 miles from UC Merced, a major area employer and community hub (1,500 students, 9,000+ employees)
» The site is across the street from Campus at Parkway Plaza, a new mixed-use commercial development to feature four QSR restaurants, two dine-in restaurants, a gas station, and a five-story, 134-room hotel (under construction)