Investment Highlights

HIGH-QUALITY, INVESTMENT GRADE SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for ten years plus four five-year options
» 10% fixed rent increases every five years in initial term and option periods
» Guaranteed by Starbucks Corporation, rated “A-” by Standard & Poor’s
» No CAM–tenant maintains the property

HARD CORNER LOCATION WITH LARGE CUSTOMER BASE
» Located at signalized hard corner with excellent access and visibility to 22,405 vehicles per day
» Directly across from Cypress Springs High School and Hopper Middle School, with a combined enrollment of over 4,500 students
» Two miles from Lone Star College–CyFair (16,000+ students)
» Approximately 26,500 students attend school within a two-mile radius

RAPIDLY GROWING COMMUNITY WITH ROBUST DEMOGRAPHICS
» The Cypress area is one of the highest-income urban areas in the United States
» Average household incomes well over $90,000 within one-, three-, and five-mile radii
» Significant residential development in the area, with several planned communities under construction near the property

NEW 2017 CONSTRUCTION
» High-quality built-to-suit construction with new prototype design
» Includes drive-thru and outdoor seating area

Click Here to Download Offering Memorandum

Property Description

SOLD

The property is located at the signalized hard corner of Fry Road and Rustic Lake Lane, with excellent visibility and access to 22,405 vehicles per day. Fry Road is a major thoroughfare, and the surrounding area features a mix of retail, residential, and civic developments. Major national tenants in the nearby area include Walmart Supercenter, Kroger, CVS, McDonald’s, Walgreens, Jack in the Box, Verizon, O’Reilly Auto Parts, and many others. Additionally, a number of new retail centers are under construction in the area, including Cypress Springs Plaza, which is directly adjacent to the property and is expected to be completed in Q2 2017.

The property is strategically located directly across from Cypress Springs High School and Hopper Middle School, allowing the property to benefit from the tremendous amount of traffic from parents and kids driving to school. Ten schools are within a two-mile radius of the property, including Lone Star College–CyFair and the newly constructed Cypress Park High School. Approximately 26,500 students attend school within a two-mile radius of the property, providing a large customer base for Starbucks.

Significant residential development is underway in the area, with several planned communities being built around the property. These new housing developments continue the trend of rapid growth that has been happening in the Cypress area; the Cypress community has seen a 267.38% growth in population since 2000. With this population growth comes a rise in home prices; home appreciation has been 37.09% in the last year.