STARBUCKS (S&P: A-) - Boulder Group

NET LEASE INVESTMENT OFFERING

STARBUCKS (S&P: A-)

13945 Highway 13 Frontage Road Savage, MN 55378 (Minneapolis-St. Paul MSA)

TABLE OF CONTENTS

TABLE OF CONTENTS

I. Executive Profile Executive Summary Investment Highlights Property Overview

II. Location Overview Photographs Aerial Site Plan Maps

III. Market & Tenant Overview Demographic Report Market Overview Tenant Overview

NET LEASE INVESTMENT OFFERING

DISCLAIMER STATEMENT

DISCLAIMER STATEMENT:

The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

NET LEASE INVESTMENT OFFERING

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY:

The Boulder Group is pleased to exclusively market for sale a single tenant Starbucks property strategically located in an affluent part of the Minneapolis-St. Paul MSA. This is a proven Starbucks location as evidenced by the tenant's recent execution of an early ten year lease extension. There are over 10 years remaining on the Starbucks lease which expires on July 31, 2026. The lease features rental escalations every five years and three 5-year renewal option periods. Starbucks is an investment grade rated company (S&P: A-) and is publicly traded (NASDAQ: SBUX) with a market capitalization in excess of $86 billion.

The 1,925 square foot Starbucks building is strategically located along Minnesota State Highway 13 in an affluent area. The property is positioned just north of the signalized intersection of Minnesota State Highway and Connelly Parkway with direct access to the Highway 13 South Front Road. Minnesota State Highway 13 is the primary north-south thoroughfare in the trade area. The average household incomes within a one mile radius of the Starbucks property exceed $127,000 annually. There are over 111,000 people living within a five mile radius of the property earning household incomes in excess of $104,000 annually.

The Starbucks is benefitted by its location within a strong retail trade area that is anchored by a SuperTarget, Cub Foods and Rainbow Foods. Additional retailers in the immediate area include OfficeMax, Walgreens, Goodyear, Associated Bank, Buffalo Wild Wings, Advance Auto Parts and others. The Starbucks is located approximately five miles northwest from the Mystic Lake Casino and Hotel which features over 150,000 square feet of gaming space, 67,000 square feet of meeting and banquet space and a 600-room hotel.

NET LEASE INVESTMENT OFFERING

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS:

? Located within the Minneapolis-St. Paul MSA ? Investment grade rated tenant (S&P: A-) ? Long term lease with over ten years remaining ? Brand new early ten year lease extension ? Rental escalations every five years ? Affluent area with average annual household incomes in excess of $127,000 within a one mile radius ? Positioned along Minnesota State Highway 13 which is the primary north-south thoroughfare in the area ? Strong retail corridor that features SuperTarget, Cub Foods, Rainbow Foods, Walgreens and OfficeMax ? Over 110,000 people living within a five mile radius of the property ? Approximately five miles from the Mystic Lake Casino and Hotel

NET LEASE INVESTMENT OFFERING

PROPERTY OVERVIEW:

PROPERTY OVERVIEW

Price: Cap Rate: Rent Schedule:

Rent Commencement Date: Lease Expiration Date: Rental Escalations: Renewal Options: Tenant: Credit Rating: Year Built: Lease Type: Building Size:

$1,540,000

5.25%

NOI $80,850 $84,700 $88,550 $92,400 $98,945

Escalation Date

8/1/2021 8/1/2026 (Option 1) 8/1/2031 (Option 2) 8/1/2036 (Option 3)

July 2006 July 31, 2026 Every Five Years Three 5-Year Starbucks Corporation Investment Grade (S&P: A-) 2006 NN (Roof, Structure & Parking Lot Maintenance and Repair) 1,925 SF

NET LEASE INVESTMENT OFFERING

PHOTOGRAPHS

NET LEASE INVESTMENT OFFERING

CONNELLY PARKWAY

140TH STREET

LOWER PRIOR LAKE

NET LEASE INVESTMENT OFFERING

HWY 13 S FRONT RD

AERIAL

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download