20451 Alton Pky
Lake Forest, CA 92610
Starbucks - Orange County · Retail Property For Sale

Faris Lee Investments is pleased to offer for sale the fee simple interest (land & building) in a brand new freestanding, single tenant, NNN leased, Starbucks Coffee, located in the Baker Ranch Community in prestigious Lake Forest, CA. The tenant, Starbucks Coffee (NASDAQ: SBUX, S&P: A ), has a brand new lease with just under 10 years remaining. The lease features a ten percent (10%) increase in Year 6 of the initial term and ten percent (10%) rental increases at the beginning of each five (5) year option periods, which generates steady NOI growth and hedges against inflation. The subject property is strategically located at the signalized hard corner intersection of Alton Parkway and Rancho Parkway South (over 15,500 combined vehicles per day). Alton Parkway is a major east/west corridor with many national tenants creating strong tenant synergy. In addition, Alton Parkway gives easy/immediate access to State Highway 241 which connects the trade area with Orange County. The subject property is located within the 370-acre Shea/Baker Ranch Area Project (SBRA) which is a long-term residential/commercial development in Lake Forest. The SBRA Project will create a diversity of housing types and create a balanced and integrated community by providing linkages to other segments of the City through trail systems, public amenities, and carefully planned residential neighborhoods. There are more than 204,000 permanent residents with an average household income higher than $120,000 within 5-miles of the subject property. Additionally, the trade area is supported by more than 144,000 daytime employees within a 5-mile radius.