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 111 Cavasina Dr., in Canonsburg, PA. The 2,638 SF retail asset is 100% leased by Starbucks Corporation (“Starbucks” the “Tenant”) and currently has 7-years of lease term remaining, subject to a 10% annual increase in 2025.
Canonsburg is a borough in Washington County, Pennsylvania, just 18 miles southwest of Pittsburgh CBD. The Pittsburgh metropolitan area, with a population of nearly 2.4 million people, is the second-largest city in Pennsylvania behind Philadelphia. The Property benefits from close proximity to Pittsburgh as well as its strategic location along I-79 (64,000 VPD) between 2 exits providing convenient on-off interstate access. The dense surrounding area has over 64K residents within a 5-mile radius. The Property also benefits from being directly adjacent to the Canonsburg retail plaza and other notable national retailers including Wendy's, Walgreens, Dunkin Donuts, Taco Bell, KFC, Subway and more.
Starbucks Corporation was founded in 1971 and is based in Seattle, Washington. As the preeminent coffee company and coffeehouse chain, Starbucks (NASDAQ: SBUX) operates over 35,000+ locations in more than 75 countries and serves nearly five billion cups of coffee annually. In addition, the company is the largest coffee provider in the world and benefits from its strong brand loyalty.
BOR: Mark Popovich
License #: PA-GA-001329L
- Investment Grade Tenancy (S&P: BBB+)
- NN lease structure - minimal landlord responsibilities
- 7+ years of lease term remaining, subject to a 10% annual bump in 2025
- Situated within the Pittsburgh, PA MSA
- 64K+ residents within a 5-mile radius of the Property
- Direct I-79 access (64,000 VPD)