Highlights

• 10 Year Corporate Backed NNN Lease
• Average HH Income $223,000 - Over 330% Above National Average
• Surrounded by New Development - 200,000 SF Office Building & Over 10,700 Multi-Family Units

• Part of Regent Cross - 30,000 SF Mixed Use Retail Development
• Rent Increases Every 5 Years
• Excellent Exposure Along Dominant Traffic Corridors - Daily Traffic Counts Exceed 107,000 Vehicles

Description

The Mansour Group of Marcus & Millichap is pleased to present a Starbucks located in Irving, Texas. Starbucks has signed a 10 year NNN lease with four, five-year options. There are 10% rent increases every five years in the initial term and 9% rent increases every five years between option periods.

Currently under construction, the subject property is part of Regent Cross, a 30,000 square foot mixed use retail development positioned on over 10 acres of land. Anchored by an Element Hotel, this development includes Subway, Hot Woks, Maui Wowi, McDonald' s, Blue Wave Car Wash and numerous others. Element, a brand extension of Westin Hotels & Resorts, will redefine extended-stay hospitality, incorporating smart design, modern style and a social environment into a category often associated with look-alike brands and generic features.

The subject property is surrounded by new development including a 200,000 square foot Intellicenter office complex positioned on over 123 acres. This Intellicenter will be the latest addition to the Regent Center, joining other facilities for Epsilon, Citigroup, FedEx and First Horizon Home Loans. Directly across Interstate 635 there are over 10,700 multi-family residential units currently under development.

The subject property benefits from the excellent demographics of the surrounding area. Average household income within a three mile radius of the subject property exceeds $236,000, a figure which dwarfs the national average by over 361%. Traffic counts in the immediate area exceed 95,000 vehicles per day.