STARBUCKS

[Pages:12]STARBUCKS

8971 SOUTH 3400 WEST, WEST JORDAN, UTAH JORDAN VALLEY TRANSIT-ORIENTED DEVELOPMENT

OFFERING MEMORANDUM

215

SOUTH VALLEY REGIONAL AIRPORT

15

JORDAN CAMPUS 154

FASHION PLACE

The information in this package has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. ? 2013 Marcus Millichap. ACT ID Z0070501

MARCUS & MILLICHAP

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154

JORDAN VALLEY

STATION

270 UNITS

PUBLIC/PRIVATE PARKING GARAGE

JORDAN VALLEY STATION

1,396 Residential, Retail, Restaurant, Medical, & Professional Office Planned

UTA TRAX Red Line

MOUNTAIN VIEW GOLF COURSE

BANGERTER HWY (58,000 CPD)

MCDONALD'S

Walgreens

DATA CENTER

JORDAN CAMPUS

W 9000 S (41,000 CPD)

The information in this package has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. ? 2013 Marcus Millichap. ACT ID Z0070501

MARCUS & MILLICHAP

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Executive Summary

FINANCIAL SUMMARY Price Down Payment Cap Rate Building SF Net Cash Flow Year Built Lot Size LEASE SUMMARY Lease Type Tenant Guarantor Roof & Structure Lease Commencement Date Lease Expiration Date Lease Term Rental Increases Renewal Options

$2,782,500 100% $2,782,500

4.60% 2,200 SF 4.60% $127,996

2019 .74 Acres

Double-Net (NN) Lease Starbucks Corporation Corporate Landlord Responsible August 12, 2019 August 31, 2029 10 Years 10% Every 5 Years 4, 5 Year Options

ANNUALIZED OPERATING DATA Lease Years

Current - 8/31/2024 9/1/2024 - 8/31/2029

Options Option 1 Option 2 Option 3 Option 4

Base Rent Net Operating Income Total Return

Annual Rent $127,996.00 $140,795.60 Annual Rent $154,875.16 $170,362.68 $187,398.94 $206,138.84

Cap Rate 4.60% 5.06% Cap Rate 5.57% 6.12% 6.73% 7.41%

$127,996 $127,996 4.60% $127,996

MARCUS & MILLICHAP

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Walgreens

MCDONALD'S

58,000 CPD

BANGERTER HWY

CATE FIELD

41,000 CPD

W 9000 S

LAND OWNED BY JORDAN VALLEY MEDICAL CENTER

S 3400 W

MARCUS & MILLICHAP

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DATA CENTER

JORDAN CAMPUS

41,000 CPD

W 9000 S

MARCUS & MILLICHAP

58,000 CPD

BANGERTER HWY

CATE FIELD

LAND OWNED BY JORDAN VALLEY MEDICAL CENTER

S 3400 W

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58,000 CPD

BANGERTER HWY

JORDAN VALLEY STATION

270 UNITS

JORDAN VALLEY STATION

1,396 Residential, Retail, Restaurant, Medical, & Professional Office Planned

LAND OWNED BY JORDAN VALLEY MEDICAL CENTER

FUTURE MEDICAL OFFICE PARK

S 3400 W

MARCUS & MILLICHAP

41,000 CPD

W 9000 S

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Property Description

INVESTMENT HIGHLIGHTS ?? New 10-Year Lease with Starbucks Corporation ?? 2019 Construction with a Drive-Thru ?? 10% Rental Increases Every 5 Years ?? 318,664 Residents in the Growing West Jordan Trade Area - Salt Lake City MSA ?? Signalized Hard Corner Location, Visible to 41,000+ Cars/Day Along W 9000 S ?? Households Projected to Increase Nearly 12% within a 3-Mile Radius by 2023 ?? Excellent Location Adjacent to Jordan Valley Medical Center and Salt Lake Community

College's Jordan Campus ?? Average Household Income Exceeds $100K within a 3-Mile Radius ?? Immediately Off Bangerter Highway (58,000+ Cars/Day) ?? Strong Daytime Population - 263,660 Employees in Surrounding Area

MARCUS & MILLICHAP

DEMOGRAPHICS 1-mile 3-miles 5-miles

Population

2023 Projection 2018 Estimate Growth 2018 ? 2023

Households

2023 Projection 2018 Estimate Growth 2018 ? 2023

Income

2018 Est. Average Household Income 2018 Est. Median Household Income 2018 Est. Per Capita Income

12,925 12,719 1.62%

135,152 124,192

8.82%

345,114 318,664

8.30%

3,734 3,581 4.28%

40,418 36,142 11.83%

105,756 95,544 10.69%

$99,109 $100,514 $91,636 $78,526 $81,122 $74,861 $27,996 $29,296 $27,504

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