1939 N Gilbert Rd
Mesa, AZ 85203
Starbucks · Retail Property For Sale

Starbucks | New Construction | 10% Bumps Every 5 CBRE is pleased to offer for sale this single-tenant Starbucks (the Property) located within the Village Grove Shopping Center on the southeast corner of Gilbert Road and McKellips Road in Mesa, Arizona. This Starbucks offering consists of a newly executed 10-year triple net (NNN) single-tenant lease. The newly constructed building is a relocation site made up of ±2000 rentable square feet, which includes indoor and outdoor seating and a drive-thru. The investment opportunity offers an attractive lease with the most well-known coffee retailer in the world. The lease calls for 10% rental increases every five years in the initial term and throughout the four (4), 5-year option periods. This investment offers a corporate guarantee by Starbucks Corporation. The shopping center immediately surrounding the Property is under new ownership and will benefit from new signage, tenant mix and meaningful tenant improvement investments by both the landlord and tenants. Starbucks signage will be featured on two new modern monument signs and two more when built over the next 24 months. The subject Property is located in Mesa, Arizona' s third largest city. Mesa boasts a population of more than ±470,000 people, with just over half (±243,574) of that population living within a 5-mile radius of the subject Property. Not only does the city of Mesa provide its residents an excellent place to live but also great opportunity for employment. Within the same 5-mile radius there are ±7,182 businesses and nearly ±72,664 employees that have an average household annual income between $60,000 and $90,000 (Source: Esri). Starbucks is strategically positioned about one mile south of the Loop-202 at the intersection of Gilbert Road and McKellips Road which has nearly ±55,900 vehicles per day, providing outstanding retail exposure (Source: City of Mesa). Nearby retailers include: Fry' s Marketplace, Walmart, Sprouts, CVS, Walgreens, Ace Hardware, O' Reilly Auto Parts, Firestone Complete Auto Care, Wells Fargo, Bank of America, Arby' s, Subway, Taco Bell, and many more.