Starbucks | New 10yr Corp NN | DrThru Veterans Memorial Drive & Odea Street

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, brand new construction, corporate guaranteed (NYSE: SBUX), investment grade (S&P: BBB+), Starbucks investment property located in Abbeville, Louisiana. The tenant, Starbucks Corporation, recently signed a brand new 10 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof, exterior structure, foundation, and parking lot. The newly-constructed building will feature a state-of-the-art design with high-quality materials.
The Starbucks is located at the hard corner intersection of Odea St and Veterans Memorial Dr. with a combined (21,200 VPD). The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Lowe’s, Dollar General, Circle K, McDonald’s, Taco Bell, Burger King, Advance Auto Parts, O’Reilly Auto Parts, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the subject property is in close proximity to Vermilion Catholic (214 students), further increases consumer traffic to the site. The 5-mile trade area is supported by over 22,000 residents and 9,000 employees. Residents within a 5-mile radius of the subject property have an average household income of $70,214.