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Starbucks & Chipotle Ground Leases, Peachtree City, GA

Starbucks & Chipotle Ground Leases

Price $5,556,000
Cap Rate 4.50%
NOI $250,000
Lease Term Various
Lease Type Absolute NNN Ground Lease
Rental Increases 10% Every Five (5) Years
Year Built 2019/2020
Building Size 4,870 SF
Lot Size 1.596 Acres (69,522 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

RARE LONG-TERM GROUND LEASES TO STARBUCKS (20 YEARS) AND CHIPOTLE (15 YEARS)
» 2020 construction featuring dedicated drive-thru lanes
» Absolute NNN leases with tenants responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Scheduled rental increases in primary terms and option periods, providing a hedge against inflation

MAJOR NATIONAL TENANTS WITH STRONG PROJECTED GROWTH AND EXCELLENT FINANCIALS
» Starbucks is an investment grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 29,000 locations and $24.7 billion in annual revenue
» Corporate lease guaranteed by Chipotle Mexican Grill (NYSE: “CMG”), an internationally recognized tenant with over $4.9 billion in annual revenue

HIGH-TRAFFIC LOCATION IN AFFLUENT AREA
» Located along State Route 54/Floy Farr Parkway (46,400 AADT), a major north-south thoroughfare connecting six Georgia counties
» Inter-parcel access from State Route 74/Joel Cowan Parkway (32,400 AADT), greatly increasing accessibility and traffic to the site
» Average annual household income of $120,102 within a five-mile radius of the location
» 60,314 residents live within five miles of the location, establishing regular local traffic to the properties

CENTRAL LOCATION NEAR LARGE SCHOOLS, RETAILERS, AND COMMUNITY HUBS
» Central location in The Avenue Peachtree City shopping center, a major community retail hub featuring 183,000 SF of retail space and 50 stores
» 1.5 miles from the only Walmart Supercenter within a 20-minute drive from the location
» Centrally located near multiple highly attended Peachtree schools, including McIntosh High School (1,670 students), Booth Middle School (1,209 students), and Trinity Christian School (1,183 students), greatly increasing lunch-time traffic to the sites


Property Description

SOLD

The property is conveniently located along State Route 54/Floy Farr Parkway (46,400 AADT), a major north-south thoroughfare connecting six Georgia counties. The property also maintains interparcel access from State Route
74/Joel Cowan Parkway (32,400 AADT), greatly increasing accessibility and traffic to the site. The location resides in a densely populated area with robust demographics, with a population of 60,314 and average household income of $120,102 within a five-mile radius of the location. The property is primed to grow along with the surrounding area, with a projected 15 percent average annual household income increase within one mile of the site in the next five years.

The dual-tenant property is centrally located in The Avenue Peachtree City shopping center, a major community retail hub featuring 183,000 SF of retail space and 50 stores. The site is surrounded by a strong mix of national and local retailers, including The Home Depot, ALDI, Chick-fil-A, PetSmart, Best Buy, Staples, and many more. Visibility is also increased by the site’s location 1.5 miles from the only Walmart Supercenter within a 20-minute drive from the property. The location is perfectly situated to service multiple highly attended area schools, including nearby McIntosh High School (1,670 students), Booth Middle School (1,209 students), and Trinity Christian School (1,183 students), greatly increasing lunch-time traffic to the property. Foot and commuter traffic to the site is significantly increased by the property’s location within 1.5 miles of seven hotels, including Peachtree City Atlanta Hotel & Conference Center (250 rooms) and Hampton Inn Atlanta/Peachtree City (61 rooms).

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