Starbucks has a new 10 year corporately guaranteed lease (NO EARLY TERMINATION) with 10% rental escalations every 5 years with four 5 year renewal options. The tenant, Starbucks Corp., is a Fortune 500 company with an “A” credit rating on S&P and an “A3” rating on Moody’s. Starbucks Corp. operates more than 28,030 retail stores in 77 countries/markets.
The subject property is located in Rolla, Missouri, just off of I-44 with high drive-by visibility. Starbucks is less than a mile from Missouri University of Science & Technology, a public land grant & space grant university offering degree programs in business & management systems, information science & technology, social sciences, humanities, & arts with total enrollment of 8,838. Phelps County Regional Medical Center, a world-class healthcare facility licensed for 242 patient beds & is proud to be the area’s largest employer with over 1,700 employees, is less than 1.5 miles from the property. Nearby retailers include Walmart Supercenter, Kohl’s, Lowe’s Home Improvement, Kroger, Price Chopper, Goodwill Retail Store, Dollar General, Glik’s, Family Center Farm & Home, JCPenney, Big Lots, ALDI, Staples, Sally Beauty, Sears Hometown Store, Walgreens, CVS Pharnacy, O’Reilly Auto Parts, AutoZone, Sherwin Williams Paint Store, etc.
*In Association With Missouri Local Broker: Bryan King, King Realty Advisors #2008036027