Starbucks 1760 Briargate blvd

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased Starbucks property located in Colorado Springs, Colorado. Starbucks has been operating at this location since 2014 and recently exercised a 10-year lease extension through June 2034. The extension also added four 5-year renewal options which demonstrates commitment to the site. There is a 9% rental escalation in June 2029 with 10% in every following renewal option. Starbucks is an investment grade tenant, rated BBB+ by Standard & Poor’s.
The 380 square-foot building benefits from its outparcel position to Chapel Hills Mall, a regional shopping destination with over 562,000 SF of retail space and anchors Macy’s, AMC Theaters, Dick’s Sporting Goods, and Dillard’s. The property also benefits from its signalized hard corner position along Briargate Boulevard which experiences over 21,800 vehicles per day. The property is also within proximity to North Academy Boulevard (47,300 VPD), another dense retail corridor that hosts tenants like Whole Foods, Best Buy, Walmart, Nordstrom Rack, Old Navy, PetSmart, Ross, Michaels, and many others. Additionally, the United States Airforce Academy is located less than 15 minutes northwest via Interstate 25 (131,500 VPD), driving additional traffic through the corridor. There are over 206,000 people living within a five-mile radius of the asset. The average household income within the same radius is in excess of $122,000.
Starbucks Corporation (NASDAQ: SBUX) is an American global coffee company and coffeehouse chain based in Seattle, Washington. Starbucks was founded in 1985 as a local coffee bean roaster and retailer and has grown into the largest coffeehouse company in the world. In recent years, Starbucks has expanded exponentially, more than doubling its units over the past 10 years. The number of Starbucks stores worldwide exceeded 35,000 in 2024. Starbucks is an investment grade rated company with a Standard & Poor’s rating of BBB+.