US - Lubbock, TX
HK$79,617,000 | 70,479 sf
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Starbucks (the “Property” or “Asset”) located at 23210 Volbrech Rd., in Crete, IL. The newly constructed 2,225 SF retail asset is 100% leased by Starbucks Corporation (“Starbucks” the “Tenant”) and currently has 15-years of lease term remaining, subject to a 10% increase in year 5.
The Property benefits from close proximity to Chicago as well as its strategic location along Highway 394 (27,500 VPD). The newly constructed Asset is a component of the retail development master plan along highway 394 known as the “Crete Market Place”. The development plan is anchored by a Kohls department with additional retailers including the subject Starbucks, a Taco Bell, Culvers and more. The surrounding area has 91K residents within a 5-mile radius of the Asset. The Property also benefits from close proximity to additional notable national retailers in the area including Mcdonalds, Shell, Burger King, and Old National Bank.
Crete is a village in Will County, Illinois. Will County is a county in the northeastern part of the state of Illinois, 35 miles south of Chicago, IL. According to the 2020 census, it had a population of 696,355, making it Illinois's fourth-most populous county.