Starbucks has a brand-new 12-year NN* lease to Starbucks Corporation with attractive 7.50% rental escalations during the initial lease term and renewal options. The Tenant, Starbucks Corporation (NASDAQ: SBUX | S&P BBB+ Investment Grade Credit Rating | Moody’s Baa1 Rating), operates over 40,000 stores worldwide. It is a brand-new, build-to-suit construction to Starbucks' newest prototype with an impressive 19-car stack in the drive-thru, slated to open in March 2025 (estimated delivery date).
The asset is situated on a large ±0.97-acre lot with excellent drive-by visibility and access on N Baldwin Avenue (the main North/South thoroughfare in Marion) with traffic counts of 23,874 cars passing daily. Marion has retailers such as Walmart, Kohl’s, Meijer, Lowe’s, Hobby Lobby, T.J. Maxx, Running’s, Dunham’s Sports, Roses, Maurices, Shoe Carnival, Big Lots, Joann Fabrics, Tractor Supply, Harbor Freight, PetSmart, ALDI, Ruler Foods, Sally, Aaron’s, Dollar General, Dollar Tree, Do It Best, Goodwill, and AMC Theatres. It is 4 miles from Indiana Wesleyan University, the largest private evangelical Christian university (affiliated with the Wesleyan Church) in Indiana, committed to liberal arts & professional education. The University offers more than 80 undergraduate & graduate programs serving over 3,000 students. The subject is also just 1 mile from Marion Health MGH Campus, a non-profit, 99-bed, acute care hospital offering medical services such as acute rehabilitation care, cancer care, cardiovascular, laboratory, medical, neurodiagnostic, obstetrics & newborn care, pediatric care, and more.