Net Lease: net lease starbucks

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Thursday, November 10, 2016

The Boulder Group Arranges Sale of Net Lease Starbucks Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Starbucks property located at 630 Northwest Highway in Cary, Illinois for $1,650,000.

The new construction Starbucks property is strategically located along Northwest Highway which is the primary thoroughfare in the trade area. The Starbucks is strategically positioned as an outparcel to a Jewel-Osco grocery anchored center. The Jewel Osco center features a Dunkin Donuts that does not have a drive thru and is significantly out-positioned by the subject freestanding drive thru Starbucks. Additional retailers located in the immediate trade area include Walgreens, ALDI, US Bank, Chase Bank, Fifth Third Bank, AutoZone, O’Reilly Auto Parts, McDonald’s and Taco Bell.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a private west coast based real estate partnership.

The new Starbucks lease is for ten years and rent commenced in October 2016. The Starbucks lease features four 5-year renewal option periods with 10% rental escalations in each. Starbucks is an investment grade rated tenant with a Standard & Poor’s Rating of A-.

“Single tenant Starbucks properties continue to be in great demand with private investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties with corporately guaranteed leases and rental escalations throughout remain at the forefront of investor demand because they provide investors with an inflationary hedge.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com

Tuesday, October 4, 2016

The Boulder Group Arranges Sale of Net Lease Starbucks Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Starbucks property located at 13945 Highway 13 Frontage Road in Savage, Minnesota for $1,475,000.

The 1,925 square foot Starbucks building is strategically located along Minnesota State Highway 13 in an affluent area in the Minneapolis-St. Paul MSA. Minnesota State Highway 13 is the primary north-south thoroughfare in the trade area. The average household incomes within a one mile radius of the Starbucks property exceed $127,000 annually. The Starbucks is benefitted by its location within a strong retail trade area that is anchored by a SuperTarget, Cub Foods, Rainbow Foods, Walgreens and OfficeMax.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a West Coast private partnership. The purchaser was a Midwest private partnership.

This is a proven Starbucks location as evidenced by the tenant’s recent execution of an early ten year lease extension. There are over 10 years remaining on the Starbucks lease which expires on July 31, 2026. The lease features rental escalations every five years and three 5-year renewal option periods. Starbucks is an investment grade rated company (S&P: A-) and is publicly traded (NASDAQ: SBUX) with a market capitalization in excess of $86 billion.

Thursday, August 18, 2016

The Boulder Group Arranges Sale of Net Lease Starbucks Ground Lease

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Starbucks ground lease located at 103 Mitchell Drive in Hendersonville, NC for $2,250,000.

The property is strategically located along Four Seasons Boulevard which is a primary thoroughfare in the area and features traffic volumes in excess of 32,000 vehicles per day. The property is located in close proximity to Interstate 26. Retailers located in the immediate trade area include Lowe’s, Home Depot, Sears, JCPenney, Belk’s and TJ Maxx.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction; a private northeast based real estate company. The seller was a Southeast based real estate developer.

The brand new Starbucks ground lease is for twenty years and features 10% rental escalations every five years. The lease features four 5-year renewal option periods. Starbucks is an investment grade rated tenant with a Standard & Poor’s rating of A-.

“The market for long term ground leases located in strong retail corridors remains active as these assets are highly sought after amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, partner of The Boulder Group, added, “Due to their limited supply, new construction Starbucks ground leases are highly sought after amongst the investment community.”