SBUX & Verizon - Starkville, MS_Property for Sale
SBUX & Verizon - Starkville, MS_Property for Sale
Mississippi 12 601, Starkville, MS, 39759, US

SBUX & Verizon - Starkville, MS

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 5,560 square foot freestanding, newly-constructed dual-tenant Starbucks and Verizon located at 601 MS-12 W in Starkville, MS (“Property” or “Asset”).


The Asset is 100% leased to Starbucks Corporation and Verizon Wireless (“Starbucks”, “Verizon” or “Tenants”) with both Tenants on new, 10-year net leases with estimated commencements in April 2024. Both leases feature 10% rental escalations every 5 years and multiple, 5-year renewal options.


Located just two miles West of Mississippi State University, the Property sits with frontage along MS Highway-12, which sees 27,000+ vehicles per day and over 40,000 residents within a five-mile radius. Notably, the Property is situated in the Triangle Crossing Center, with national tenants such as Five Below, PetSmart, Ulta, Rack Room Shoes, and Marshall’s, which attracts 680K visitors annually (Placer.ai) and is the #2 most visited Marshall’s out of 6 locations in the state of Mississippi. Mississippi State, just two miles East of the Asset, is the largest university in the entire state, with just under 24,000 students enrolled in undergraduate and graduate programs. The University just welcomed its largest freshman class in the school’s history in Fall of 2023, and is one of six universities in the nation to host a presidential library.


The Asset features diverse, investment grade tenancy from Starbucks and Verizon (S&P: BBB+) with corporate entities on the leases. Additionally, both Verizon and Starbucks are ranked on the Fortune 500 list (#26 and #125, respectively).


This unique opportunity allows investors the ability to acquire a dual-tenant retail asset with highway frontage in a top college town. The asset offers secure, long-term cash flow backed by investment-grade tenants with global brand name recognition. 


...

Attributes

Building area net
516 m²
Occupancy
100%
Year built
2024
WAULT
10 years
Asking price
€3,545,000
Cap rate
6.25%

Media

Investment Highlights

  • 2024 Construction with Starbucks Drive-Thru and Ample Parking
  • Globally-Recognized, Investment-Grade Tenancy from Verizon & Starbucks (BBB+)
  • 10+ Years of Term Remaining with 10% Rent Escalations every 5 Years
  • Net Lease with Limited Landlord Responsibilities and Corporate Guaranty
  • Adjacent to Starkville Crossing (2.6M Annual Visitors, top 25% Visited Shopping Center in the Nation)
SBUX & Verizon - Starkville, MS 4_Property for Sale
SBUX & Verizon - Starkville, MS 4_Property for Sale

Contact brokers

SBUX & Verizon - Starkville, MS (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
30 Jan 2024