Asking Price
NOI Net Operating Income
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Asking Price
NOI Net Operating Income
Cap Rate

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Attributes

Year Built 2020
Building Area
Land Area ()

Property Description

JLL is pleased to offer for sale the fee simple interest in a newly-built Starbucks drive-thru located in Mobile, Alabama. The property will be leased to Starbucks, the largest specialty coffee retailer in the world with over 32,000 locations and annual revenues of $26.5 billion. Starbucks will operate on a double-net lease structure that features ten years of primary lease term, ten percent rental increases in each renewal option, and minimal landlord responsibilities. Upon completion of construction, the property will sit within a highly trafficked corridor along AL-193 that includes Walmart, Lowe’s, and a newly-built 65,000 square foot Veterans Affairs Clinic.

This offering presents the opportunity to acquire a newly constructed drive-thru property located within an established and growing retail corridor and leased to an investment grade and industry leading tenant with minimal landlord responsibilities. 

Investment Highlights

-Newly constructed Starbucks drive thru

-Investment grade (S&P: BBB+) corporate guaranty from Starbucks

-Dominant market share with no other Starbucks or nationally-branded coffee retailers within a 3-mile radius

-Net lease with 10 years of primary lease term and 10% rental escalations in each renewal option

Last Updated Date: 23 Nov 2020
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 23 Nov 2020

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