ABSOLUTE NET LEASE RETAIL INVESTMENT SALE
STARBUCKS DRIVE-THRU
2010 Highway 287 N.
Mansfield, Texas 76063
INVESTMENT OVERVIEW
OFFERING SUMMARY
Price:
$1,320,000
Square Footage:
1,829
Net Operating Income:
$99,000
Cap Rate:7.5%
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Absolute NNN Lease / Tenant Responsible For Roof And Structure
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1,829 Square Feet (on 24,002 SF of Land)
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Built 2005
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7.5% Cap Rate
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Lease Expiration Date February 28, 2021
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S&P A- Credit
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Just off Intersection of N. U.S. 287 (to Fort Worth) & SH 157 (to Arlington)
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Mansfield Median Family Income Over $90,000
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Texas Has No State Income Tax
LEASE SUMMARY
Lease Expiration:
February 28, 2021
Lease Type:
Absolute NNN
No Landlord Obligations
Renewal Options:
Three 5-Year w/Escalations
For more information:
Paul Stevenson, CCIM
Direct 214 256 7147
[email protected]
4851 LBJ Freeway 10th Floor Dallas Texas 75244 Tel 214 256 7100 Fax 214 256 7101 www.isg.naidallas.com
Joe Cicardo, CFA
Direct 214 256 7146
[email protected]
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Household Income
To Fort Worth
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To Arlington
INVESTMENT HIGHLIGHTS
TENANT – Starbucks began in 1971 with a single coffee shop in Seattle, went public in 1985 (SBUX), and today has almost 18,000
retail stores in 60 countries. Starbucks sells coffee, handcrafted beverages, fresh food and merchandise. Starbucks credit is rated
A- by S&P. Starbucks reported record earnings for Fiscal First Quarter 2013 as total revenues increased 11% to a record $3.8 Billion
and America’s comparable store sales grew 7%. It was rated “No. 1 Most Popular Quick Refreshment Chain” by Zagat 2009-2011,
and one of the “Most Admired Companies in America” by Fortune 2003-2012.
PROPERTY LOCATION – The property is located off the northeast corner of US Highway 287 N and SH 157 in Mansfield, Texas,
southeast of Ft. Worth, Texas, on the in-commuting side of US 287. Mansfield Town Center (450,000 SF plus outparcels) is located
across US 287, with Cinemark, Best Buy, and Marshalls. The traffic count along US 287 at SH 157 is 57,000 VPD and 30,228 VPD at
SH 157 N and Rosebrook Drive (0.03 miles N).
MANSFIELD, TEXAS – Mansfield, 20 miles southeast of downtown Fort Worth, had a 2011 population of 57,627 and was ranked
in the top 30 on CNN/Money Magazine’s 2012 Best Places to Live list (small cities) with a median family income of $91,618, no state
income tax, and 113.86% job growth (2000-2011).
TEXAS ECONOMY – Texas is the second largest state in the U.S. by population. State GDP of $1.15 trillion in 2011 was the second
largest in the U.S. The Texas economy was remarkably resilient during the recent recession and has consistently out-performed the
national economy. The Texas unemployment rate is currently 6.4% (March 2013), well below the national rate of 7.6%.
This information has been secured from sources we believe to be reliable, but NAI Global Investment Services Group nor any of its
broker(s)/salesperson(s) makes any representations or warranties, expressed or implied, as the accuracy of the information. References
to square footages, lot size, or age are approximate. Buyer must verify information him/herself and bears all the risk of any inaccuracies.
Confidentiality Agreement THIS CONFIDENTIALITY AGREEMENT (this “Agreement”) is made and agreed to by and between NAI Robert Lynn (“NAI”), and _______________________________________ (“Potential Purchaser”) regarding the property located at 2010 U.S. Highway 287 N., Mansfield, Texas 76063 (Starbucks) (the “Property”). The obligation of confidentiality undertaken pursuant to this Agreement shall survive the closing of the sale of the Property. PURCHASER HAS REQUESTED information from NAI for the purpose of evaluating a possible acquisition in the Property (an "Interest"). NAI intends to deliver information concerning the Interests and the Property, much of which is highly confidential, only to be used by those prospective purchasers who sign this Agreement. THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows: 1. Purchaser will not disclose, permit the disclosure of, release, disseminate, or transfer any information with respect to the Property or the Interests obtained from, or made available by, NAI (“Information”) to any other person or entity, regardless of whether such information is obtained through written, verbal, electronic or other means. 2. If Purchaser is a corporation, partnership, limited liability company, or other non‐natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who need to know of the Information and who are specifically aware of the Agreement and agree to honor it. 3. This Agreement applies to all Information received from, or made available by NAI now or in the future, which is not readily available to the general public. Purchaser understands that all Information shall be deemed confidential, valuable, and proprietary such that its unauthorized use or disclosure, even without intent to harm, could cause substantial and irreparable harm to NAI, the current owner of the Property, or any future owners of the Property. 4. Purchaser shall use the Information for the sole purpose of evaluating the potential acquisition of the Interest, and shall not at any time or in any manner permit the Information to be used for any other purpose. 5. Purchaser shall not contact directly any persons concerning the Interests or the Property other than NAI without NAI’s written permission. Such persons include, without limitation, other potential purchasers, the current owner, property managers, suppliers and/or tenants of the Property. 6. Purchaser acknowledges that it is a principal and not an agent on behalf of any other party in conjunction with the purchase of the Property (except advisors working on behalf of their pension fund clients). 7. NAI nor its brokers do not make any representations or warranties, express or implied, as to the accuracy or completeness of any Information provided, or made available, by them. Purchaser assumes full and complete responsibility for confirmation and verification of all information and expressly waives all rights of recourse against NAI with respect to the same. 8. The Persons signing on behalf of Purchaser and NAI represent that they have the authority to bind the party for whom they sign. 9. This Agreement shall be governed and construed in accordance with the laws of the State of Texas. POTENTIAL PURCHASER: By: _________________________________________________________________________ Printed Name: ________________________________________________________________ Phone: ________________________________ Email: ________________________________ POTENTIAL PURCHASER’S BROKER (IF ANY): By: _________________________________________________________________________ Printed Name: ________________________________________________________________ Phone: ________________________________ Email: ________________________________