- The tenant, Starbucks Corporation, recently signed a new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
- The lease features 10% rental increases every 5-years during the initial term and at the beginning of each option period, hedging against inflation
- The site has 2024 construction with the brands new modern store design
Investment Offering
Tolleson, AZ - Starbucks
1207 N 91st Ave | Tolleson, AZ 85353
$3,505,000
Price5.35%
Cap Rate$187,500
NOI1,470
± SF Offering GLADescription
Location
- The property is located near on/off ramps of Interstate-10 (273,000 VPD), a heavily trafficked highway connecting the site directly to downtown Phoenix
- Starbucks receives crossover retail exposure from position on N. 91st Avenue (26,300 VPD) adjacent to McDonald’s, QuikTrip, and a future commercial site
- Directly across from the Residence at Tolleson apartments (442 units)
- At the center of a dense retail corridor along I-10 featuring top retail centers including the Desert Sky Mall (6.3M+ annual visits), the Gateway Pavilions (4.9M+ annual visits), and the Gateway Crossing (4.5M+ annual visits)
- Nearby retailers include Costco, Sam’s Club, Walmart, and Home Depot
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226