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
2 // Starbucks
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
3 // Starbucks
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
4 // Starbucks
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
5 // Starbucks
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
6 // Starbucks
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
7 // Starbucks
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
8 // Starbucks
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