Investment Highlights

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for 10 years, plus six (6) five-year options
» Extremely rare “self-maintain” lease, providing an true passive Starbucks investment
» 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 $26.5 billion in annual revenue
» 2020 construction, featuring an upgraded construction and dedicated drive-thru, boosting sales revenue and catering to traffic State Road 13
» Large Starbucks building at 3,470 SF compared to standard 2,200 SF Starbucks, providing future flexibility
» Relocation from The Shops of Bartram Walk where Starbucks did extremely well

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED CORRIDOR
» High-visibility location on State Road 13, with access to 41,207 vehicles per day directly in front of the location
» Average annual household income of $126,650 within three miles of the location
» Population of 108,943 within a five-mile radius of the location, creating a large customer base for the site
» Projected 15 percent average annual household income increase within a one-mile radius of the site in the next five years, poising Starbucks and Jacksonville for significant concurrent growth
» 20 percent population increase within five miles of the site since 2010, illustrating the immediate area’s rapid growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» One mile from St. John’s River, the longest river in Florida (approximately $800 million in annual visitor spending in St. John’s County)
» Surrounded by several national retailers, including Walmart Supercenter, Publix, McDonald’s, Sonic Drive-In, CVS, Walgreens, and many more
» Location within Fruit Grove, one of Florida’s fastest-growing and most affordable suburbs
» Gateway to Downtown Jacksonville, the most populous city in Florida
» Beneficial proximity to several popular Florida tourist attractions, including Jacksonville Beach and The Tournament Players Club at Sawgrass
» Five miles from Durbin Creek Crossing, a 30-acre mixed use development comprised of approximately 2,500 new homes, along Race Track Road

Property Description

SOLD

Visibility to the property is increased by the site’s centralized location in a densely populated and growing retail corridor. The site has a high-visibility location along State Road 13, with access to 41,207 vehicles per day directly in front of the location. 108,943 residents live within a five-mile radius of the location, establishing an extremely large regular customer base for the site. The property resides in a robustly affluent area, with an average annual household income of $126,650 within three miles of the location. The site is located in an area that has experienced rapid growth in recent years, with a 20 percent population increase within five miles of the site since 2010. The property is also primed to grow along with the surrounding area, with a projected 15 percent average annual household income increase within one mile of the site in the next five years.

Visibility and traffic to the site is greatly increased by its central location near large employers, retailers, and community hubs. The property is one mile from St. John’s River, the longest river in Florida (approximately $800 million in annual visitor spending in St. John’s County). The site is also immediately surrounded by several national retailers, including Walmart Supercenter, Publix, McDonald’s, Sonic Drive-In, CVS, Walgreens, and many more, promoting crossover shopping to the location. The property resides within Fruit Grove, one of Florida’s fastest-growing and most affordable suburbs. The location also serves as a gateway to Downtown Jacksonville (the most populous city in Florida), and has a beneficial proximity to several popular Florida tourist attractions, including Jacksonville Beach and The Tournament Players Club at Sawgrass. The property is advantageously located five miles from Durbin Creek Crossing, a 30-acre mixed use development comprised of approximately 2,500 new homes.