Starbucks | Asheboro, NC
5.75% CAP | #1 Performer in NC per PlacerAI | GROWING TRIAD AREA
Investment highlights
ATTRACTIVE LEASE FUNDAMENTALS
10% rental increases every 5 years including options
Two (2) - five (5) year options
Minimal LL responsibilities
CORPORATE GUARANTEE FROM CREDIT TENANT
Starbucks has a S&P credit rating of BBB+
Over 35,000 locations worldwide
$30.3B Total Revenue
SIGNIFICANT NEARBY DEVELOPMENT
Asheboro and the surrounding Piedmont Triad are experiencing a surge in large-scale industrial and advanced manufacturing investment
Market has attracted 2M+ SF of new industrial and logistics development in the past 24 months
On going retail infill along E Dixie Drive (US-64) includes new QSR, automotive, and service retail
Within a 1-mile radius there is 1.6 M SF of retail space and positive net absorption of 151% in the past 12 months
NEW CONSTRUCTION
New build-to-suit Starbucks with a double drive-thru lane
Warranties will be assigned to the new owner
HIGH GROWTH ASHEBORO, NC
Over 1.7M people live in Triad & the region has over 900K jobs with a 2.3% job growth since 2022
Asheboro has experienced significant investment from Envoronmental Air Systems, Energizer, Ross, Klaussner Furniture and Randolph Hospital, and is home to the NC Zoo
TOP PERFORMING LOCATION IN HIGHLY SOUGHT AFTER RETAIL CORRIDOR
The subject Starbucks ranks 1 in visits in North Carolina and top 99th percentile in the Country
Fronting E. Dixie Dr (20K VPD)
Nearby Restaurant users include Chipotle, McDonalds, Wendy’s, and Chick-Fil-A
Other National tenants include Walmart, Lowe’s Home Improvement, Marshals, and Hobby Lobby
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