PDF Stauc ee EXCLUSIVE LISTING Port St. Lucie, FL

[Pages:12]SEtXaCrbLuUcSkIsVCEoLfIfSeTeIN| PGort St. Lucie, FL

Offering Memorandum

Starbucks Coffee | Port St. Lucie, FL

Actual Site

PATRICK NUTT

MANAGING PARTNER

(954) 302-7365 patrick.nutt@

CCAALLKKAAIINN..CCOOMM

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Starbucks Coffee | Port St. Lucie, FL

Offering Memorandum

Financial Summary

2209 SW Gatlin Blvd | Port St. Lucie, FL 34953

Asking Price $2,710,000 | Cap Rate 4.65%

Average Cap Rate in Initial Term 5.03%

Net Operating Income (NOI)

$126,000

Rent/Month

$10,500

Rentable Square Feet

2,150+/- SF

Land Area

1.36+/- Acres

Tenant Name

Starbucks Coffee

Credit Rating

S&P: A-; Moody's: A3

Stock Symbol

Nasdaq: SBUX

Guarantor

Corporate

Ownership Type

Fee Simple

Lease Type

NN

Landlord Responsibilities

Capital Repairs to Roof*/ Structure/Parking Lot

Store Opened

February 2018

Lease Term Remaining

10 Years

Rent Commencement

February 1, 2018

Lease Expiration

February 28, 2028

Increases

8% After Lease Year 3 and 7, 10% each Option

Options

Four (4), Five (5) Year

Rent Schedule

Term Years 1-3 Years 4-7 Years 8-10 (Option 1) (Option 2) (Option 3) (Option 4)

Increases 8% 8%

10% 10% 10% 10%

Annual Rent $126,000.00 $136,080.00 $146,966.40 $161,662.60 $177,828.86 $195,611.75 $215,172.93

Monthly Rent $10,500.00 $11,340.00 $12,247.17 $13,471.88 $14,819.07 $16,300.98 $17,931.08

Investment Highlights

?? Traffic signalized corner location near Walmart, The Home Depot and Target with immediate access to and from Interstate 95

?? Corporate lease guaranty by Starbucks Corporation (S&P: A-) ?? RARE - 8% increase after year 3 and 7 of the primary term ?? Brand new construction - roof has 15 year warranty ?? Tenant responsible for routine maintenance (including pot hole repair &

re-striping of parking lot)

*New Building Comes with 15 Year Roof Warranty 2

Starbucks Coffee | Port St. Lucie, FL

Offering Memorandum

Tenant Overview

About Starbucks Coffee

Starbucks Corporation is an American coffee company and coffeehouse chain. The chain was founded in Seattle, Washington in 1971; it operates 25,000 locations in 75 countries. Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, Evolution Fresh juices, Frappuccino beverages, pastries, and snacks; some offerings (including their Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell prepackaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers; select "Starbucks Evenings" locations offer beer, wine, and appetizers. Starbucks-brand coffee, ice cream and bottled cold coffee drinks are also sold at grocery stores.

Tenant Snapshot

# of Locations

25,000+

Stock Symbol

SBUX

Credit Rating S&P: A-

MOODY'S: A3

2017 Revenue

$22.38B

Market Cap

$ 81.5B

Actual Site

Actual Site

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Starbucks Coffee | Port St. Lucie, FL

Offering Memorandum

Tampa

Location Overview

Vero Beach

Subject Site

Subject Site

95

Port St. Lucie

Port St. Lucie

Fort Myers

West Palm Beach

Distance To:

Vero Beach West Palm Beach Fort Lauderdale Fort Myers Tampa

31 miles 50 miles 93 miles 125 miles 162 miles

Fort Lauderdale

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Starbucks Coffee | Port St. Lucie, FL

Offering Memorandum

2209 SW Gatlin Blvd | Port St. Lucie, FL 34953

Tradition Village Square

The Landing at Tradition

95

Tradition Pkwy 20,300 VPD

Subject Site SW Gaitlin Blvd

I-95 35,500 VPD

Village Pointe

Tradition Center for Innovation

95

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Starbucks Coffee | Port St. Lucie, FL

Offering Memorandum

2209 SW Gatlin Blvd | Port St. Lucie, FL 34953

I-95 35,500 VPD

95

I-95 On Ramp

Subject Site

SW Gatlin Blvd 20,300 VPD

I-95 Off Ramp

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Starbucks Coffee | Port St. Lucie, FL

Offering Memorandum Site Plan

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Starbucks Coffee | Port St. Lucie, FL

Offering Memorandum

Demographics

Radius

Population

2017 Population 2022 Population 2010-2017 Annual Rate 2017-2022 Annual Rate 2017 Male Population 2017 Female Population 2017 Median Age

Households

2017 Total Households 2022 Total Households 2010-2017 Annual Rate 2017-2022 Annual Rate 2017 Average Household Size

Median Household Income

2017 Median Household Income 2022 Median Household Income 2017-2022 Annual Rate

Average Household Income

2017 Average Household Income 2022 Average Household Income 2017-2022 Annual Rate

Per Capita Income

2017 Per Capita Income 2022 Per Capita Income 2017-2022 Annual Rate

1 Mile 3 Miles

4,601 4,950 1.79% 1.47% 48.7% 51.4%

37.9

47,484 51,146 1.42% 1.50% 48.9% 51.1%

39.0

1,471 1,577 1.74% 1.40%

3.13

16,249 17,435 1.28% 1.42%

2.92

$61,159 $70,864

2.99%

$57,442 $64,462

2.33%

$81,195 $95,442

3.29%

$77,568 $89,358

2.87%

$26,565 $31,090

3.20%

$27,144 $31,180

2.81%

5 Miles

108,118 116,640

1.47% 1.53% 48.7% 51.3%

40.9

38,768 41,632 1.33% 1.44%

2.79

$54,418 $60,919

2.28%

$73,195 $84,283

2.86%

$26,337 $30,175

2.76%

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