Starbucks (GL)

1760 Briargate Blvd, Colorado Springs, CO 80920

$1,333,333

Cap Rate 5.10%

Views: 156 DOM: 286 Updated: 11.02.24 Posted: 03.10.24 Status: Active

Summary

Price $1,333,333	Built/Renov 2014	Tenant Starbucks (GL)
Cap Rate 5.10%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 380	Lease Start 12-01-2013	#Units 38,038
Price/SF $3,508.77	Expiration 06-30-2034	Tenant Type Fast Food/QSR
NOI $68,000	R. Term 9.6	Ownership Ground Lease
Rent/SF $178.95	Increases 9.0%/5/yrs	Pop 5Mi 206,329
Lot/AC 0.27	Options 4/5yrs/10%	AHHI 5Mi $122,664

Lease Highlights

Starbucks has 9+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 9% rental increases throughout the initial term and 10% in each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee (NASDAQ: SBUX)
Investment grade tenant (S&P: BBB+)

Location Description

Starbucks is strategically located along the signalized, hard corner intersection of Briargate Boulevard, with access to 21,800 vehicles passing by daily. The property is positioned as an outparcel to Chapel Hills Mall, a regional shopping destination with anchor stores including Macy’s and AMC Theaters, among others. Moreover, the property is within close proximity to North Academy Boulevard,...

...

Key Features

Build to suit
Dense retail corridor
Shopping Ctr out-parcel
Strong demographics
Major MSA
Absolute NNN
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

Starbucks Wikipedia Starbucks Wikipedia Colorado Springs, Colorado Zip Code 80920 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Starbucks
Guarantor:Corp T and Rated
Company:Starbucks Corporation
# Units:38,038
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,022	79,866	215,104
2023 Total Population :	6,593	78,591	206,059
2023 Employed Civilian Pop :	3,267	40,081	102,615
2023 Total Businesses :	735	3,551	7,746
2023 Average Household Income :	$ 104,450	$ 121,913	$ 122,768
2023 Total Consumer Spending :	$ 253 M	$ 3186 M	$ 8352 M
2023 Median Age :	38	39	37
2023 Total Households :	2,802	30,696	79,802
2023 Pop Age 25+: Bachelor's Degree :	1,440	16,561	41,197
2023 Average Home Value :	$ 463,961	$ 486,425	$ 491,081

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Briargate Blvd	Chapel Hills Dr	2013	17,634	0.08 mi
Chapel Hills Dr	Briargate Blvd	2013	11,600	0.14 mi
Chapel Hills Dr	Independence Dr	2006	9,470	0.15 mi
Briargate Blvd	N Academy Blvd	2015	21,845	0.26 mi
Briargate Boulevard	Chapel Hills Dr	2021	15,787	0.27 mi
Mirage Drive	Chapel Hills Dr	2021	3,487	0.30 mi
Chapel Hills Dr	Mirage Dr	2000	20,514	0.31 mi
North Academy Boulevard	E Woodmen Rd	2021	40,935	0.32 mi
State Hwy 83	Briargate Blvd	2013	41,322	0.33 mi
State Hwy 83	Briargate Blvd	2013	39,527	0.37 mi

Listing Broker

Zach Wright

The Boulder Group (Denver)

Contact

17 Listings
1985 Views
8 Sold

Jimmy Goodman

The Boulder Group (HQ)

Contact

168 Listings
18460 Views
65 Sold

Zach Wright

Zach Wright is a Vice President and Head of the Denver office of The Boulder Group. Zach specializes on the sale of net leased investment properties located nationally, with a focus on the Rocky Mountain and Midwest states. The key to Zach’s success is his work ethic and drive to constantly improve ways in which he can create value for his clients. Through a vast network built upon strong relationships and a honest reputation, Zach is able to successfully assist clients with the acquisition and

...

Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

...

Randy Blankstein

The Boulder Group (HQ)

Contact

165 Listings
17844 Views
62 Sold

Randy Blankstein

President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT