US - Lubbock, TX
£8,149,000 | 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 401 South Crossroads Dr, Sioux Falls, SD. The newly constructed 2,225 SF retail asset is 100% leased by Starbucks Corporation (“Starbucks” the “Tenant”) and currently has 10-years of lease term remaining, subject to an 8.0% annual increase every 5-years.
The Property benefits from its strategic location along West 12th Street and Highway 29 with direct exposure to a combined 67,700 vehicles per day. The property benefits from the pro-business environment in Sioux Falls, which boasts no state corporate income tax, ensuring palatable NNN rents for retailers on a go-forward basis. The newly constructed Asset is situated along a dense commercial corridor. The surrounding area has over 180K 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 Taco Bell, BP, Walgreens, Hardee’s, and Circle K.
Sioux Falls is a city in Minnehaha County, South Dakota. Minnehaha County is a county in the southeast part of the state of South Dakota, encompassing four parts of different states. According to Esri’s 2022 population estimates, Sioux Falls has a population of 202,191, making it South Dakota's most populous city. In 2022 alone, there was an 84% increase in residential construction due to strong employment trends in the major industries (financial services, retail, and healthcare services) drawing more people to the region.
South Dakota Licensed Broker
Jones Lang LaSalle Brokerage, Inc.
A licensed real estate broker
SD License: 18117