JUST LISTED: Starbucks Mesa, AZ | Hard Corner - Pad to Costco | 10% Every 5

1312 S Sossaman Rd Mesa, AZ 85209

1312 S Sossaman Rd, Mesa, AZ, 85209
Hard Corner Location
1312 S Sossaman Rd, Mesa, AZ, 85209
FOR SALE
Property Type:
Restaurant
Amount:
$3,150,000
Last Verified:
Jun 15, 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.

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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