Investment Highlights
Investment Grade Tenants | Long-Term Occupancy (21+ Years) | Early Starbucks Extension | Scheduled Renovations (Sept. 2024)
Costco & Lowe?s Anchored Center | 87th Percentile Nationwide
Signalized, Hard Corner Intersection | Excellent Visibility & Access
NNN | Fee Simple Ownership | Minimal Landlord Responsibilities
Major Retail Thoroughfare Featuring National/Credit Brands
Strong Demographics In 5-Mile Trade Area | Affluent Community
Executive Summary
SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 2-tenant, NNN leased, corporate signed, Starbucks and Chase Bank investment property located in Memphis, Tennessee. JPMorgan Chase Bank (NASDAQ: JPM | S&P: A+), recently signed a brand new 15-year lease with 3 (5-year) option periods to extend. Starbucks (NASDAQ: SBUX | S&P: BBB+) is currently in the process of exercising their option early and extending their lease further at no cost to landlord due to wanting longer control of the site. In addition, they are investing approximately $500,000 of renovations in to the store to make it more equipped to handle high volume traffic, demonstrating both the strength and long-term commitment to this location. Both leases feature scheduled rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The leases are NNN with minimal landlord responsibilities making it an ideal investment opportunity for a passive investor.
