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Starbucks, Sanger, TX

Starbucks, Sanger, TX


Investment Summary

Price $2,750,000
Cap Rate 5.20%
NOI $143,000
Lease Term 10 years
Lease Type Net, with tenant responsible for all taxes, insurance, and maintenance, excluding roof and structure
Rental Increases 10% rental increases every five (5) years
Year Built 2023
Building Size 2,200 SF
Lot Size 1.04 acres (45,302 SF)
Status Closed
Lead Brokers Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
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 CORPORATE LEASE TO INVESTMENT GRADE TENANT
» 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
» High-quality 2023 construction with drive-thru

PROMINENT LOCATION AT THE ENTRANCE OF 131-ACRE PLANNED RESIDENTIAL/COMMERCIAL DEVELOPMENT
» Trophy location at the entrance of a 131-acre planned development which will feature a major grocery anchor tenant, 582 multi-family homes, 18 townhome units, 12 duplex units, 140 single-family lots, and 156 build-for-rent lots
» Nearby access to I-35/Monarch Highway, which experiences 63,813 vehicles per day
» Across from O’Reilly Auto Parts and situated near many strong national tenants such as McDonald’s, Sonic Drive-In, Jack in the Box, Taco Bell, Domino’s Pizza, Family Dollar, and many more
» Less than one mile from Holiday Inn Express & Suites (77 rooms), Sanger Inn (29 rooms), Sanger Middle School (438 students), and Chisholm Trail Elementary School (320 students)
» Two miles from Indian Stadium (4,188 seating capacity), Sanger High School (811 students), and Butterfield Elementary School (578 students), providing a nearby ideal customer base

GROWING SUBURB IN DALLAS METRO WITH INCOMES OVER $108K WITHIN A FIVE-MILE RADIUS
» Growing North Dallas suburb with a five-mile population of 15,780 (a 33% growth since 2010)
» Affluent community with an average annual household income of $108,867 within a five-mile radius (projected to increase 14% by 2027)
» Strategic location with access to a large consumer base in the Dallas-Fort Worth Metroplex
» 46 miles from Fort Worth, home to more than 900,000 residents and fifth-largest city in Texas (ranked the 13th-largest and one of the fastest-growing cities in the U.S.)
» Approximately one hour from Dallas, the third-largest city in Texas and the largest city in the Dallas–Fort Worth Metroplex (population of 7.76 million)

Property Description

SOLD

» This Starbucks is located prominently at the entrance of a 131-acre planned development which will feature a major grocery anchor tenant, 582 multi-family homes, 18 townhome units, 12 duplex units, 140 single-family lots, and 156 build-for-rent lots
» The property is situated with beneficial proximity to I-35/Monarch Highway, which experiences 63,813 vehicles per day near the site
» The site is located across from O’Reilly Auto Parts and well-positioned near many strong tenants such as McDonald’s, Sonic Drive-In, Jack in the Box, Taco Bell, Domino’s Pizza, Family Dollar, and more
» Additionally, the site is just two miles from Indian Stadium (4,188 seating capacity), Sanger High School (811 students), and Butterfield Elementary School (578 students)
» Ideally located in a growing North Dallas suburb, the property serves an immediate five-mile population of 15,780 (a 33% growth since 2010)
» The surrounding area is affluent with an average annual household income of $108,867 within a five-mile radius and is projected to increase 14% by 2027
» The site is approximately an hour from Dallas, the third largest city in Texas and the largest city in the Dallas–Fort Worth Metroplex (population of 7.76 million)

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