new 10-year lease
STARBUCKS
GAINESVILLE, FL
pricing
PRICE: $2,841,000
NOI: $134,962 
CAP: 4.75%
INVESTMENT HIGHLIGHTS
  • Strong Tenant: Starbucks Corporation (NASDAQ Symbol: SBUX, S&P: A) is the premier roaster, marketer and retailer of specialty coffee in the world, operating 25,085 stores in 75 countries. Net Worth: $5.6B, TTM Revenue: $21.9B, and TTM Net Income: $2.9B as of April 2017. 
  • New Long-term Net Lease with Increases: 10-year lease with no early termination clause has 10% rent escalations every 5 years throughout the term commenced in August 2017.
  • New Construction: New build-to-suit construction for Starbucks that was delivered in August 2017.
  • Excellent Access/Visibility: Situated on a hard corner at the signalized intersection of 53rd Avenue and Northwest 43rd Street (Combined Traffic Count: 29,100 VPD), just 4.7 miles east of I-75 (Traffic Count: 56,500 VPD). Publix, Wells Fargo, CVS, Walgreens, McDonald's and Ace Hardware among many others occupy the immediate intersection. 
  • Strong Commercial Corridor: 1.4 MSF of retail, 1.6 MSF of office, 1.3 MSF of industrial and 4,244 multifamily units within a 3-mile radius. Other notable retailers with a presence in the immediate corridor include Walmart Supercenter, The Home Depot, Tractor Supply Co, Advance Auto Parts, H&R Block, Family Dollar, CVS and Walgreens among many others.
  • Upscale Demographics: Population of 42,654 and an averages household income of $83,838 within a 3-mile radius.
  • Market: Gainesville, FL (Population: 281,000) is situated on the I-75 corridor halfway between Atlanta and Miami, and serves as the cultural, educational and commercial center for the north central Florida region. Gainesville is best known as home to the University of Florida (52,286 Students), which is the fifth largest US university campus by enrollment and is one of the state’s premier centers of education, medicine, cultural events and athletics.
CONTACT
US
WILL PIKE
Managing Director
+1 404 923 1381
will.pike@cbre.com 


CHRIS BOSWORTH
Managing Director
+1 404 923 1486
chris.bosworth@cbre.com
BRIAN PFOHL
Capital Markets Manager
+1 404 504 7893
brian.pfohl@cbre.com


MARK DRAZEK
CBRE FL Licensee
mark.drazek@cbre.com
 
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