Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Key Facts

Current / Passing Rent
Tenant Starbucks Corporation
Building Area

Property Description

JLL is pleased to offer for sale the fee simple interest in a newly-built Starbucks drive-thru (the “Property” or “Asset”) located in South Holland, Illinois. The Property will be leased to Starbucks Corporation (“Starbucks”), the largest specialty coffee retailer in the world with over 32,000 locations and annual revenues of $23.5 billion. Starbucks will operate on a double-net lease structure that features ten years of primary lease term, ten percent rental increases every five years, minimal landlord responsibilities, and four five-year renewal options. This offering presents the opportunity to acquire a newly constructed, drive-thru asset located within an established and growing retail corridor and leased to an investment-grade, industry-leading tenant with minimal landlord responsibilities. 

Investment Highlights

  • Starbucks drive-thru, build-to-suit delivered in March 2021
  • The property will be leased to Starbucks, the world's largest specialty coffee retailer, with minimal landlord responsibilities
  • The lease features 10 years of firm, primary term and 10% rental escalations every five years, including in each of the four, five-year renewal options
  • South Holland, IL: 20 miles south of Chicago CBD
Last Updated Date: 05 Apr 2021
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 05 Apr 2021

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