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Asking Price
NOI Net Operating Income
Cap Rate

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Property Description

JLL is pleased to offer for sale the fee simple interest in a newly-built Starbucks drive-thru (the “Property” or “Asset”) located in Springfield, Illinois.​ The Property is leased to Starbucks Corporation (“Starbucks”), the largest specialty coffee retailer in the world with over 32,000 locations and annual revenues of $24 billion.​ Starbucks operates on a double-net lease structure that features ten years of primary lease term, 3.5-4.0 percent rental increases every five years, and four five-year renewal options.​ This offering presents the opportunity to acquire a newly constructed, drive-thru asset located in the historic capital of Illinois and leased to an investment-grade, industry-leading tenant with minimal landlord responsibilities.​


Investment Highlights

  • ​Starbucks BTS drive-thru that commenced June 2021
  • ​Located on hard corner off I-55 in a dense hotel corridor with exposure to 84,000 VPD
  • ​Lease features 10 years of primary term and rental escalations every five years, including in each of the four, five-year renewal options
  • ​Leased to Starbucks, the world's largest specialty coffee retailer, with minimal landlord responsibilities
Last Updated Date: 28 Jun 2021
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 28 Jun 2021

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