Starbucks & Bank of Hope

Highlights

• STRATEGIC INTERSTATE LOCATION - Positioned directly off Interstate 85 (112,000+ VPD) with additional frontage along Eastern Boulevard (47,000+ VPD), two of Montgomery’s most heavily traveled corridors.
• LONG-TERM TENANT COMMITMENT - Both tenants have been successfully operating since 2015. Starbucks recently executed a 10-year renewal (2025) while Bank of Hope executed a 5-year renewal in 2023, demonstrating continued confidence in the location.
• INVESTMENT-GRADE COFFEE TENANT - Starbucks is a globally recognized brand with strong unit-level performance in suburban and urban markets, driving consistent daily traffic to the center.
• ESTABLISHED FINANCIAL INSTITUTION - Bank of Hope (NASDAQ: HOPE), one of the largest Korean-American banks in the U.S., provides essential banking services and benefits from a loyal, multi-ethnic customer base.
• DENSE RETAIL CORRIDOR - Directly across from Lowe’s, Home Depot, Harbor Freight, McDonald's, Carmax, and Crunch Fitness, and surrounded by national retailers including Walmart, Ashley Furniture, Discount Tire, Chick-fil-A, Taco Bell, Burger King, ALDI, and more.
• HOTEL & VISITOR TRAFFIC GENERATOR - Within one mile of approximately 15 hotels, supporting over 1.5 million annual visitors to Montgomery and creating steady consumer demand.
• PROXIMITY TO MAJOR INSTITUTIONS - Minutes from Auburn University at Montgomery (5,200 students), St. James School (800+ students), and directly behind the Museum of Fine Arts and Alabama Shakespeare Festival (500,000 annual visitors).
• MILITARY & INDUSTRIAL ECONOMIC DRIVERS - Home to Maxwell Air Force Base (14,500+ personnel) and Hyundai’s $1.8B manufacturing facility employing 4,000+ workers, anchoring long-term economic stability.
• CAPITAL CITY MARKET POSITION - Located in Alabama’s capital and second-largest city, with more than 20,000 businesses employing 200,000+ people within a 20-mile radius, reinforcing sustained commercial demand.

Description

Prime Net Lease is pleased to present the opportunity to acquire a Starbucks & Bank of Hope anchored retail asset located at 1601 Eastern Boulevard in Montgomery, Alabama. Constructed in 2015, the 3,856-square-foot building sits on 0.52 acres and benefits from exceptional visibility just off Interstate 85 (112,000+ vehicles per day) with additional frontage along Eastern Boulevard (47,000+ vehicles per day), two of Montgomery’s most heavily traveled corridors.

Both tenants have operated successfully at the property since its development, demonstrating strong commitment to the location. Starbucks recently executed a new 10-year lease renewal in 2025, while Bank of Hope renewed in 2023, reinforcing long-term tenancy and continued confidence in the site. Starbucks is a globally recognized coffee brand known for strong unit-level performance and consistent daily traffic generation, while Bank of Hope (NASDAQ: HOPE) is one of the largest Korean-American banks in the United States, providing essential financial services to a diverse and loyal customer base.

The property is positioned within one of Montgomery’s dominant retail corridors, directly across from Lowe’s, Home Depot, Harbor Freight, McDonald’s, CarMax, and Crunch Fitness, and surrounded by additional national retailers including Walmart, Ashley Furniture, Discount Tire, Chick-fil-A, Taco Bell, Burger King, and ALDI. Approximately 15 hotels within one mile support Montgomery’s 1.3 million annual visitors, while nearby institutions such as Auburn University at Montgomery, St. James School, and the Alabama Shakespeare Festival and Montgomery Museum of Fine Arts generate consistent local and visitor traffic.

Montgomery’s economy is anchored by major employers including Hyundai Motor Manufacturing Alabama, a $1.8 billion facility employing more than 4,200 workers and producing up to 390,000 vehicles annually, along with significant military presence from Maxwell Air Force Base and Gunter Annex, which support more than 14,500 personnel and contribute approximately $2.6 billion annually to the regional economy. As Alabama’s capital and second-largest city, Montgomery serves as a regional commercial hub with over 20,000 businesses employing more than 200,000 people within a 20-mile radius, providing a strong and diverse economic foundation that supports long-term tenant performance and investment stability.

Montgomery, AL – A Historic Capital City with Strong Regional Influence

Location & Regional Connectivity
Montgomery, Alabama is strategically located in central Alabama, positioned along Interstate 65 and Interstate 85, providing direct connectivity to Birmingham, Mobile, Atlanta, and the Florida Panhandle. As the state capital, Montgomery serves as a key political, economic, and transportation hub for the region. Its central location places it within a few hours’ drive of multiple major Southeastern markets, making it attractive for logistics, distribution, and regional service operations.

City Overview – Montgomery, AL
With a population of approximately 200,000 residents and a metro population exceeding 380,000, Montgomery is one of Alabama’s largest cities. The city blends historic significance, government presence, and modern economic development, serving as the center of state government and home to numerous federal and regional agencies. Montgomery’s revitalized downtown, riverfront development, and growing mixed-use districts reflect ongoing investment in infrastructure and quality of life enhancements.

Economic Drivers & Industry
Montgomery’s economy is diversified across government, military, manufacturing, healthcare, education, and retail. As the state capital, public-sector employment provides stability and long-term demand. Maxwell Air Force Base and Gunter Annex are major economic anchors, supporting military operations and defense-related industries. The region also benefits from advanced manufacturing, including automotive production at the Hyundai Motor Manufacturing Alabama plant, one of the area’s largest private employers. Healthcare systems and higher education institutions further strengthen the workforce pipeline.

Retail & Commercial Landscape
Montgomery supports a strong retail presence, anchored by major shopping corridors such as Eastern Boulevard and Atlanta Highway, along with national retailers, regional shopping centers, and expanding service-based businesses. Continued redevelopment efforts in key corridors and mixed-use projects are enhancing commercial activity. The city’s traffic counts, government workforce, and military presence provide a consistent consumer base that supports retail, healthcare, and professional services.

Education & Workforce
Montgomery is home to several higher education institutions, including Auburn University at Montgomery (AUM), Alabama State University, Huntingdon College, and Faulkner University, contributing to a steady stream of educated professionals. The presence of military training facilities further strengthens workforce development and long-term population stability.

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