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Starbucks, Alexandria, LA

Starbucks

Price $2,363,000
Cap Rate 5.00%
NOI $118,128
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 2,211 SF
Lot Size 0.48 Acres (20,730 SF)
Status Available
Lead Broker Information Scott Crowle
Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for 10 years, plus four (4) five-year options
» No early termination clause
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» 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 $26.5 billion in annual revenue
» 2020 remodel featuring an upgraded construction, a dedicated drive-thru, and an outdoor patio, boosting sales revenue
» Only Starbucks with a drive-thru in Central Louisiana – nearest one 85 miles away

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED RETAIL CORRIDOR

» Highly visible signalized hard corner location on MacArthur Drive with full access to traffic on U.S. Highway 71 (37,139 AADT)
» U.S. Highway 71 is a major north-south U.S. thoroughfare connecting Louisiana and Canada
» Surrounded by highly trafficked Louisiana thoroughfares, including Interstate 49 and State Route 28 (combined 67,008 AADT), increasing traffic to the site
» 65,560 residents live within a five-mile radius of the property, establishing regular local traffic to the site
» Located two miles from Downtown Alexandria, the ninth-largest city in Louisiana

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Within two miles of four major shopping centers with a combined 1.5 million SF of retail space and 157 stores
» Surrounded by several national retailers, including Walmart Supercenter, McDonald’s, Sonic Drive-In, Taco Bell, Popeyes Louisiana Kitchen, Kroger, Chick-fil-A, Wendy’s, and many more, promoting crossover shopping to the location
» Within two miles of five schools with a combined enrollment of 3,757 students, significantly increasing morning and lunchtime traffic to the site
» Four miles from Rapides Regional Medical Center (362 beds, 2,000 employees)
» Beneficial proximity to Alexandria International Airport, which welcomes approximately 400,000 travelers annually



Property Description

The property has an easily accessible location on MacArthur Drive, a high-visibility site with full access to 37,139 vehicles per day directly in front of the property. The site is located along U.S. Highway 71, a major north-south U.S. thoroughfare connecting Louisiana and Canada. The location is also surrounded by highly trafficked Louisiana thoroughfares, including Interstate 49 and State Route 28 (combined 67,008 AADT), increasing traffic to the site. The location is perfectly suited to serve a densely populated area, with 65,560 residents living within a five-mile radius of the property.

Visibility and traffic to the site is greatly increased by its central location near large employers, retailers, and community hubs. The property is within two miles of four major shopping centers with a combined 1.5 million SF of retail space and 157 stores. The site is also immediately surrounded by several national retailers, including Walmart Supercenter, McDonald’s, Sonic Drive-In, Taco Bell, Popeyes Louisiana Kitchen, Kroger, Chick-fil-A, Wendy’s, and many more, promoting crossover shopping to the location. The property resides within two miles of five schools with a combined enrollment of 3,757 students, significantly increasing morning and lunchtime traffic to the site. The location also resides four miles from Rapides Regional Medical Center (362 beds, 2,000 employees) and has a beneficial proximity to the Alexandria International Airport, which welcomes approximately 400,000 travelers annually.

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