US - Lubbock, TX
HK$79,638,000 | 70,479 sf
JLL is pleased to offer for sale a freestanding, single-tenant Starbucks (the “Property” or “Asset”) located in Aurora, IL. The newly-constructed Property was delivered in September of 2022 and features a 15-year net lease with a 10% rental increases after five years as well as four, five-year renewal options.
The drive-thru-equipped Property is positioned on a highly-trafficked intersection (± 42,000 VPD) in a dense retail corridor, directly in between the Northgate and Aurora Commons shopping centers that attract over 250,000 visitors every month. Additionally, Kane County offers a rare tax discount within the Chicago MSA, where taxes grew only 14% between 2018 – 2021, compared to Chicago’s 31% tax growth in the same time period.
The Property offers a rare opportunity to acquire a long-term secure cash flow backed by Starbucks Corporation (“S&P: BBB+”), the largest specialty coffee retailer in the world with over 34,000 locations throughout 75 countries.