Starbucks has a brand new 10 year NN corporate lease with attractive 10% rental escalations every 5 years! The tenant, Starbucks Corporation, operates more than 25,730 locations in approximately 75 countries. Starbucks has an A-Stable credit rating on S&P and an A3 Stable rating on Moody’s. This property has brand new construction with expected construction completion on March 1st, 2018.
Starbucks is located in Ankeny, Iowa, with high drive-by visibility just off the hard corner. The property is in an infill location within 2 miles of 2 miles of Des Moines Area Community College (Over 15,000 Students), John Deere Manufacturing Plant, Ankeny High School, etc. This area has had tremendous population growth of 25.70% in a 3 mile ring! Iowa also has a low unemployment rate of 2.9% compared to the national average of 4.1% (Nov 2017).
*In Association With: The Lerner Company