Objectomschrijving
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,221 square foot freestanding, under construction single-tenant Starbucks located at 6214 U.S. Highway 98 in Hattiesburg, MS (“Property” or “Asset”).
The Asset is 100% leased to Starbucks Corporation (“Starbucks” or “Tenant”) with a brand new 10.0-year primary lease term, 10.0% rent escalations every 5-years, and six, five-year renewal options. The Property is targeted to open on July 8th, 2024.
Situated within “Hub City”, Starbucks benefits from being at the epicenter of the major transportation hub in the region. As an “on-the-go” retailer, Starbucks is the prime tenant to be positioned in the crossroads of major highways and rail networks. Starbucks is within the larger ±30-acre Hattiesburg Marketplace retail development, and the area has experienced a significant population increase of more than 52% since 2010 within a one-mile radius
Less than 3 miles from the Property is The University of Southern Mississippi (USM), the only four-year public institution on the Mississippi Gulf. USM has an enrollment of more than 10,000 students and its annual impact reaches over $600 million.
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Investeringskenmerken
- College town location with the University of Southern Mississippi, the only four-year public institution in the Mississippi Gulf, less than 3 miles from the Property
- Situated within “Hub City”, the epicenter of the major transportation hub of the region
- Hattiesburg is #19 Southern Cities on the Rise (Southern Living, 2024)
- Explosive 52% population growth since 2010 within a 1-mile radius and frontage on primary Hattiesburg throughfare with 38,000 VPD
- Home to the 60,000 SF Regions Mortgage Operations Facility with 400+ employees
- Starbucks (S&P: ‘BBB+’) is the world’s largest specialty coffee retailer (35,000+ locations)
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