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Starbucks Thunderbird 1 Thunderbird| Brand New 10 Year Net Lease Starbucks Exclusively Listed by CHAD TIEDEMAN Senior Managing Director (602) 288-3472 [email protected] 2 3131 East Camelback Road, Suite 340 Phoenix, Arizona 85016 P 602-957-9800 F 602-957-0889 Starbucks www.pcainvestmentsales.com Table of Contents INVESTMENT PROPERTY ABOUT 04 OVERVIEW 05OVERVIEW 07 STARBUCKS AREA CONTACT 08OVERVIEW 12 3 Starbucks Property Summary Investment Highlights ASKING PRICE $2,680,000 Brand new corporate 10-year net lease, landlord has limited responsibilities CAP RATE 4.55% Located on the going-to-work side of the street ANNUAL BASE RENT $122,000 Starbucks is one of the nation’s preeminent corporations with 1Q2018 net revenues up 6% to a record $6 billion TOTAL BUILDING SIZE ±2,200 SF + Drive-Thru High traffic exposure off Thunderbird Road with over 31,000 VPD TOTAL LAND SIZE ±1.61 Acres True investment grade tenant Starbucks Corporation (NASDAQ: SBUX) with over 28,000 stores in 76 markets YEAR BUILT 2018 Strong 10% rent increases every 5 years through the primary term and option periods PRIMARY LEASE TERM Ten (10) Years Brand new 2018 construction freestanding building with RENT COMMENCEMENT Projected July 2018 drive-thru Starbucks (S&P: A) corporate revenues in excess of $22.39 billion LEASE TYPE Net Lease Easy access right off the Loop 101 freeway with over 4 RENT INCREASES 10% Every 5 Years 120,000 VPD 8160 W Thunderbird Rd Subject property is surrounded by neighborhoods with over PROPERTY ADDRESS Peoria, AZ 85381 321,000 residents within a 5-mile radius Starbucks property Site Plan 5 THUNDERBIRD RD ±31,117 VPD N site plan not drawn to scale Starbucks Lease Abstract Increase Annual TENANT Starbucks Corporation Term Years % Increase Date Rent GUARANTOR Starbucks Corporation Primary 1-5 - $122,000.00 N/A LEASE TERM Ten (10) Years Primary 6-10 July 2023 $134,200.00 10% RENT COMMENCEMENT Projected July 2018 Option 11-15 July 2028 $147,620.00 10% LEASE TYPE Net Lease Option 16-20 July 2033 $162,382.00 10% RENT INCREASES 10% Every 5 Years Option 21-25 July 2038 $178,620.20 10% RENEWAL OPTIONS Four, Five Year Options Option 26-30 July 2043 $196,482.22 10% PROPERTY TAXES Paid by Tenant INSURANCE Paid by Tenant UTILITIES Paid by Tenant COMMON AREA EXPENSES Paid by Tenant HVAC Paid by Tenant 6 ROOF & STRUCTURE Paid by Landlord Starbucks Tenant Profile OUR HERITAGE Starbucks is an American global coffee company that is currently the largest coffee shop in the world with over 28,000 retail stores in 76 markets and over 277,000 employees. Founded in 1971 in Seattle, Washington, the original Starbucks location still stands in Pike Place Market. STARBUCKS CORPORATION Starbucks offers more than 30 lends of single-origin premium coffees as well as handcrafted teas, blended beverages, pastries, sandwiches and a variety of other fresh NASDAQ SBUX foods. The company offers its products under the Starbucks, Tazo tea, Seattle’s Best Coffee, MARKET CAP $82.69 billion (intraday) Starbucks VIA Ready Brew, Starbucks Refreshers, Evolution Fresh, La Boulange, and Verismo brand names. REVENUE $22.73 billion (ttm) S&P RATING A As of 1Q 2018, Starbucks is present in 76 markets HEADQUARTERS Seattle, WA LOCATIONS ±28,000 Worldwide EMPLOYEES ±277,000 7 Starbucks DIAMOND COVE AT DESERT HARBOR CENTENNIAL HIGH SCHOOL ±2,121 STU ±21,812 VPD ±120,478 VPD COPPERFIELD THUNDERBIRD RD ±31,117 VPD 83RD AVE SAGEWOOD DISCOVERY AT THE ORCHARD 8 PIVOTAL PEORIA CENTER BRISTOL MANOR Starbucks DEER VALLEY RD ARROWHEAD SUNRISE MOUNTAIN ARROWHEAD 75TH AVE RANCH HIGH SCHOOL LAKES ±1,597 STU 91ST AVE 91ST 99TH AVE 99TH 83RD AVE ±119,963 VPD 43RD AVE 59TH AVE 67TH AVE 51ST AVE MIDWERSTERN UNIVERSITY ARROWHEAD ARROWHEAD ±3,000 STU 39TH AVE TOWNE CENTER RANCH PHASE II DEER VALLEY UNION HILLS DR HIGH SCHOOL ±1,855 STU GROVERS AVE ±120,387 VPD BELL RD SUN CITY CACTUS HIGH SCHOOL ±1,311 STU GREENWAY RD THUNDERBIRD SCHOOL DESERT HARBOR OF GLOBAL MANAGEMENT THUNDERBIRD ±1,305 STU NORTH CENTENNIAL HIGH SCHOOL ±2,121 STU ±31,117 VPD THUNDERBIRD RD ARIZONA STATE UNIVERSTIY (WEST CAMPUS) ±3,701 STU IRONWOOD HIGH SCHOOL SAGEWOOD ±2,012 STU MARSHALL RANCH DISCOVERY CACTUS RD AT THE ORCHARD PHOENIX-WICKENBURG HWY 9 PEORIA HIGH SCHOOL ±1,531 STU BRISTOL MANOR PEORIA AVE Starbucks Demographics POPULATION GROWTH HOUSEHOLD GROWTH AVERAGE HOUSEHOLD INCOME 5-Mile 5-Mile 2017 2000 266,289 2000 105,896 1-Mile $77,488 2010 295,956 2010 120,002 3-Mile $66,309 2017 321,305 2017 129,091 5-Mile $66,340 2022 343,324 2022 137,612 1010 Starbucks Starbucks DAYTIME DEMOGRAPHICS 2017 DAYTIME DEMOGRAPHICS 2017 CONSUMER FOOD SPENDING Employees in the Area Businesses in the Area OF MORE THAN 1-Mile 5,444 1-Mile 455 3-Mile 53,146 3-Mile 3,728 $135 MILLION 5-Mile 106,726 5-Mile 8,070 WITHIN A 3-MILE RADIUS 1111 Starbucks Starbucks Confidentiality Statement This Confidential Offering Memorandum has been prepared by Phoenix Both Phoenix Commercial Advisors (PCA) and the Owner disclaim any Commercial Advisors (PCA) for use by a limited number of parties whose sole responsibility for inaccuracies and expect prospective purchasers to exercise purpose is to evaluate the possible purchase of the subject property. This independent due diligence in verifying all such information. The contained Memorandum has been prepared to provide summary, unverified information information is subject to change at any time and without notice. The recipient of to prospective purchasers, and to establish only a preliminary level of interest in the Memorandum shall not look to the Owner or Phoenix Commercial Advisors the subject property. The information contained herein is not a substitute for a (PCA) for the accuracy or completeness of this Memorandum. thorough due diligence investigation. A prospective purchaser must make its own independent investigations, The information contained in this Memorandum has been obtained from projections, and conclusions regarding the acquisition of the property without sources we believe to be reliable. While we do not doubt its accuracy, we have reliance on this Memorandum or any other Confidential Information, written or not verified it and make no guarantee, warranty, or representation about it. It is verbal, from the Broker or the Seller. The Owner expressly reserves the right, at your responsibility to independently confirm its accuracy and completeness. Any its sole discretion, to reject any offer to purchase the property or to terminate projections, opinions, assumptions or estimates used, are for example only, and any negotiations with any party, at any time, with or without written notice. do not represent the current or future performance of the property. The value Only a fully-executed Real Estate Purchase Agreement, approved by Seller, shall of this transaction to you depends on taxes and other factors which should be bind the property. Each prospective purchaser and/or broker proceeds at its evaluated by your tax, financial and legal advisors. You and your advisors should own risk. conduct a careful, independent investigation of the property to determine, to your satisfaction, the suitability of the property for your needs. All potential All property showings are by appointment only. buyers must take appropriate measures to verify all of the information set forth herein. 1212 Exclusively Listed by CHAD TIEDEMAN Senior Managing Director 3131 East Camelback Road, Suite 340 (602) 288-3472 Phoenix, Arizona 85016 P 602-957-9800 F 602-957-0889 Starbucks Starbucks [email protected] www.pcainvestmentsales.com.
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