Starbucks has a new 10 year NN lease with attractive 10% rental escalations every 5 years and four 5-year renewal options. The tenant, Starbucks Corporation, operates more than 28,720 retail stores in 77 countries/markets.
Starbucks is located in Fargo, North Dakota on a large 1.26 acre lot just off Highway 81 on a hard corner with excellent drive-by visibility. This asset is a pad site to Walmart Supercenter and nearby retailers include: Costco Wholesale, Target, Burlington, Kohl’s, Hobby Lobby, JCPenney, Macy’s, Best Buy, The Home Depot, Lowe’s Home Improvement, Menards, Bed Bath & Beyond, T.J. Maxx, JOANN Fabrics, Shoe Carnival, Scheels, Savers, Barnes & Noble, Petco, Gordmans, Michaels, Marshalls, HomeGoods, Pier 1, Office Depot, Dollar Tree, etc. This asset is only 4 miles from Rasmussen College (793 students) , 9 miles from North Dakota State University (13,796 students), 9 miles from Concordia College (2,104), and 9 miles from Minnesota State University Moorhead (6,624 students).
*In Association with North Dakota Local Broker: Jay Lerner, The Lerner Company #2129