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Starbucks, Plano, TX

Investment Summary

Price $3,000,000
Cap Rate
NOI
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot
Rental Increases Rental Increases Every Five (5) Years
Year Built 1995 (Renovated 2023)
Building Size 2,696 SF
Lot Size .5548 Acres (24,167 SF)
Status Sold
Lead Brokers Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 10-YEAR NET CORPORATE LEASE TO THE LARGEST COFFEEHOUSE COMPANY IN THE WORLD
» New 10-year corporate net lease to Starbucks Corporation
» Fixed rental increases every five years
» Investment-grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 35,711 locations and $32.3 billion in annual revenue (11% increase from 2021 revenue of $29.1 billion)
» Per Statista, customers go to Starbucks six times per week on average
» Approximately 60 million Starbucks customers are served every week, while approximately four million coffee-based beverages are sold daily
» 2023 retrofit featuring multiple access points and an exceptional amount of parking with 25 total spaces for added customer convenience

TROPHY LOCATION JUST OFF THE HIGHLY TAFFICKED U.S. HIGHWAY 75
» Strategic location between Dallas and McKinney, just off U.S. Highway 75, which has an impressive traffic count of 246,359 vehicles per day in front of the site
» Less than a minute from the U.S. Highway 75 on/off ramps, making it a quick and easy stop for commuters
» Located within walking distance of a brand-new mixed-use development currently under construction that will be redeveloped into office, retail, and apartment space
» Excellent proximity to major national tenants such as Big Lots, Barnes & Noble, Bed Bath & Beyond, Petco, Michaels, Hobby Lobby, Conn’s HomePlus, Dick’s Warehouse Sale, BJ’s Restaurant & Brewhouse, Goodwill, Ashley Furniture Store, Wells Fargo, and The Home Depot, among may others

DENSELY POPULATED TEXAS SITE NEAR LARGE UNIVERSITY
» Population of 313,104 within five miles, giving the site a large customer base
» Six miles from University of Texas at Dallas – one of the largest public universities in the Dallas area (29,543 students, 1,334 staff)
» Near Downtown Plano and surrounded by major retail, industrial, and housing areas, all helping establish a strong customer base
» Texas is an income tax free state

Property Description

Sold
» This Starbucks has a high-visibility location along U.S. Highway 75, a major thoroughfare that connects Dallas to McKinney and has a traffic count of 246,359 vehicles per day
» The site is uniquely positioned within walking distance of a major new mixed-use development that will include office, retail, and apartment space
» Ideally set in a large retail corridor, the property is surrounded by notable tenants such as Big Lots, Barnes & Noble, Bed Bath & Beyond, Petco, Michaels, Hobby Lobby, Conners HomePlus, Dick’s Warehouse Sale, BJ’s Restaurant & Brewhouse, Goodwill, Ashley Furniture Store, Wells Fargo, The Home Depot, and many more, creating crossover shopping to the site
» The site greatly benefits from a customer base, with an average annual household income of$121,704 within five miles of the property
» 313,104 residents live within a five-mile radius of the site, providing a large and reliable customer base for Starbucks
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Starbucks and Plano for steady concurrent growth

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