Starbucks | Abs NNN Ground Lse 1740 Centinela Ave

Faris Lee Investments is pleased to bring to market an opportunity to acquire an irreplaceable hard corner parcel leased to Starbucks in the growing and dynamic city of Inglewood CA. With over 38,000 locations globally, Starbucks is the #1 World’s Most Valuable Restaurant Brand (QSR Magazine). The offering is the leased-fee interest (ground lease) with a remaining lease term of 13+ years with 10% rent increases every 5 years. Starbucks has occupied the location for nearly 7 years on an Absolute NNN Lease with no landlord exposure to property expenses or management. Upon Starbucks renewing the lease, an investor’s return will be maximized as there is an almost never seen FMV rent adjustment in the first option to renew (min 10%/max 30%). Starbucks pioneered the drive thru only concept and now with customer dining habits changing so quickly with many customers only using the drive thru, many QSR behemoths like McDonald’s, Chick-Fil-A, and Taco Bell are following suit.
Starbucks is ideally situated at the hard corner of La Cienega Blvd. and Centinela Avenue, one of busiest intersections in Los Angeles County with 131,000 VPD. The location is also less than three-quarter of a mile from the 405 Freeway, the busiest freeway in the United States with traffic counts of 334,000 VPD along the portion of freeway near this location. With the recent additions of Sofi Stadium and Intuit Dome and the on-going redevelopment of the former 238 acre Hollywood Park Race Track into a mixed-use urban village, Inglewood has experienced tremendous growth and gentrification which will benefit property owners well into the future.