Starbucks - Otsego NEC of Parrish NE & 88th St ave

Investment Highlights

Starbucks signed a 10 year net lease, which does not include a termination option and leaves minimal responsibilities for the Landlord The lease is directly with Starbucks Corporation, which is publicly traded and boasts an investment- grade credit rating The property is less than half a mile from MN-101, an arterial roadway that carries 52,000 VPD The building is brand new construction with high- quality materials and distinct design elements The property is situated directly adjacent to a Target and a newly developed Coborn's Grocery

Executive Summary

Jones Lang LaSalle Americas, Inc. (?JLL?), is pleased to exclusively offer for sale the fee-simple interest in a newly developed Starbucks (the ?Property?) located at the northeast corner of Parrish Ave NE and 88th St in Otsego, Minnesota. This single tenant net lease asset is 100% occupied by Starbucks, and the 10-year lease, which includes built-in rent escalations every 5 years, is signed directly with Starbucks corporate. The 1,693 SF building is new construction and sits on 0.68 acres of land.Starbucks (NASDAQ: SBUX) is a global leader in the retail coffee industry, renowned for its premium beverages and inviting store experience. With a strong presence in over 80 markets worldwide, Starbucks operates more than 31,000 stores across the globe. With over $32 Billion in revenue in 2022 and an investment-grade credit rating, Starbucks is the gold standard for quick service retail.The property is ideally situated on the hard corner of Parrish Ave and 88th St, benefiting from a clear, unobstructed view from both roadways. The site is also located directly adjacent to a Target and a newly developed Coborn's Grocery. The immediate area is experiencing rapid development with Parkview Grand Apartments and Parrish Meadows Townhomes being completed in the last two years. Within a three-mile radius, average household income approximately equal to the national average and has grown at a solid pace over the last five years. With a relatively highly educated and young population, the surrounding area is primed for continued growth, as evidenced by steady population growth over the last five years.Please see OM for more information.

• Sale Type    Investment NNN
• Property Type    Retail Retail General Retail Fast Food General Retail Freestanding General Retail Restaurant Retail
• Building Size    1,750
• Year Built    2024
• Price    2,683,000
• Price Per SF    1,533
• Cap Rate    6.15
• NOI    165,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.06
• Land Acres    0.68 AC

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