INVESTMENT HIGHLIGHTS
LEASE TERM: This is a new construction, build-to-suit Starbucks. The Property features Starbucks’ latest architectural design, best-in-class drive-thru experience, and outdoor patio space, all designed to enhance the customer experience and drive sales. Starbucks has more than 9 years remaining on their double net lease with four (4), 5-year renewal options. This is a rare Starbucks location that is open 24-hours a day (via the drive-thru).
ATTRACTIVE RENT INCREASES: The lease features a 5% rent increase in year six of the primary lease term, a 10% increase at the start of the first renewal option, a 15.2% increase at the start of the second renewal option and 10% rental increases at the start of the third and fourth renewal options, providing the investor with an attractive increase in revenue and a hedge against inflation.
STRATEGIC LOCATION: Starbucks is exceptionally well-located at the signalized intersection of Cherry Lane and New Castle Avenue (DE Route 9). The Property is positioned at the base of the Route 9 exit, the last exit along Interstate 295 before crossing the Delaware River into New Jersey. The Property is both visible and easily accessible from Interstate 295 which has traffic counts in excess of 120,000 vehicles per day.
