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Jones Lang LaSalleAmericas, Inc.(“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,500 square foot freestanding, new construction single-tenant Starbucks located at 855 County Road 210 in St. Johns, Florida (“Property” or “Asset”). The Asset is 100% leased to Starbucks Corporation (“Starbucks” or “Tenant”) with a brand new, 10.0-year primary lease term with 10.0% rent escalations every 5-years and six, five-year renewal options. The Property is set to open in May 2024 as a build-to-suit for the tenant.
Located 22 miles southeast of Jacksonville, the Property is situated between the 14-acre Crystal Lagoon® and County Road 210, with prominent signage along I-95 (118,000 VPD), within the new Beachwalk master planned mixed-use center.
Beachwalk is a 1,200-acre master planned community that features a mix of 3.0 million square feet of retail, office, commercial, and mixed-use space to more than 79,000+ residents within a 5-mile radius. The mixed-use development is set to contain of three retail centers, 1,260 residential units, three St. Johns County School District sites, a 130-key Margaritaville Hotel, a 150,000 SF, $115 million Ascension St. Vincent’s health care facility, and more, all centered around a 14-acre man-made Crystal Lagoon®.
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Destaques do investimento
- 2024 build-to-suit construction set to open in May 2024
- Within the brand-new, 1,200-acre master planned Beachwalk Community
- Incredible demand characteristics driven by a 3-mile AHHI of $153,000 and 1,436% population growth since 2010 in a 1-mile radius
- Starbucks (S&P: ‘BBB+’) is the world’s largest specialty coffee retailer (35,000+ locations)
- Along County Road 210 (17,000 VPD), which recently completed a $15 million expansion project from two lanes to six lanes to provide traffic relief
- St. Johns County is the #4 fastest growing county in the U.S.
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