Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

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Key facts

Year Built 2022
Building Area Gross
Occupancy 100.0 %

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire a new-construction Starbucks drive-thru (the “Property”, “Offering”), located in the prominent retail corridor in Whitehouse (Tyler), TX. The 2,105 square foot property features a 10-year net lease to Starbucks, with attractive rent increases and three (3) five-year options. Future ownership will benefit from Starbucks’ investment-grade ‘BBB+’ credit guaranteeing the lease, with the Property fitting into their national drive-thru location expansion efforts. Located within the Tyler, Texas MSA (Population 238,813), the Property has a highly visible location along South State Highway 110 (15,540 VPD) at the hard-corner location across from a grocery-anchored retail center. The location is attractive to Starbucks due to consistent population growth in the area, growing by over 44% since 2000 and expected to grow an additional 5.9% in the next five years.  The Offering provides investors the opportunity to acquire a new-construction single-tenant Starbucks on a landlord favorable net lease with 10 years of primary lease term and attractive renewal options.


Investment highlights

  • Investment-grade cash flow from a market-leading tenant
  • 10-year net lease with attractive rent increases and renewal options (no early termination)
  • High growth surrounding population (44% growth since 2000)
  • Brand new construction drive-thru location at a hard-corner
  • Located along major Tyler MSA north/south thoroughfare (+15,000 VPD)
Last Updated Date: 25 Apr 2022

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Last Updated Date: 25 Apr 2022

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