This listing is under contract.
Starbucks Mesa, AZ | Hard Corner - Pad to Costco | 10% Every 5
1312 S Sossaman Rd
Mesa, AZ 85209
UNDER CONTRACT FOR SALE
Last Verified:Aug 11, 2021
Brand-new single-tenant Starbucks opportunity, located on an outparcel to an extremely busy Costco Wholesale. 10-year double-net (NN) lease with attractive 10% rental increases every five years in the initial term and throughout the option periods. Starbucks has changed their increase structure moving forward to 7.5% every 5 years on new deals. Starbucks (NASDAQ: SBUX) is the largest coffee chain in the world with over 32,000 stores in 83 markets. The company reported approximately $23.5 billion of revenue in 2020 and has a S&P credit rating of BBB+ (Source: starbucks.com). Population of ±270,450 in a five-mile radius (Source: Esri). Mesa is the 3rd largest city in Arizona with a population of ±518,000 (Source: selectmesa.com). The property is located less than two miles from the Superstition Springs Center, a ±922,000 square foot shopping mall, and Mesa Pavilions, a ±307,417 square foot Target anchored shopping center. Less than five miles southeast of the Property is Eastmark, the #1 best-selling master-planned community in Arizona and top 10 best-selling community in the United States between 2015 and 2019. Eastmark is zoned for ±15,000 homes (Source: Eastmark.com). Approximately seven miles southeast of the Property is Apple's ±1.3 million square foot global data command center, which employs approximately 150 people.