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Starbucks

Under Contract

6502 Highway 90 Alt
 77498

$ 2,320,000

Under Contract
Cap Rate: 5.10%
Size: 1,850 SF
Lot Size: 0.69 Acres

OFFERING MATERIALS

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Marcus & Millichap is pleased to offer this exceptional Starbucks (“Property”) at the entry to the Telfair neighborhood in Sugar Land (Houston MSA), Texas. Recently constructed as a part of The Crossing at Telfair development in 2015, the Property benefits from its premium location at the hard corner of high traffic Highway 90 and Easton Avenue at the entry to the Telfair master planned community.

Telfair was developed by Newland Communities and sold out in 2014. As one of the premium communities in the Houston area, Telfair consists of 2,019 total acres and has received numerous accolades including Community of the Year (Greater Houston Builders Association) and Best Residential Development – Landmark Award (Houston Business Journal). Demographics are excellent, with average household income exceeding $194,000 in a 1-mile radius of the Property.

As a result, Telfair has attracted numerous major retailers. Tenants sharing this development with Starbucks include T-Mobile, HEB Grocery, Dairy Queen, Whataburger, Chuy’s, and Frost Bank among many others. In addition, two hotels are currently being constructed in The Crossing at Telfair demonstrating the strong fundamentals of this location.

Starbucks has approximately six years remaining on the primary term of its corporate double net lease, and there is a rent increase occurring in 2021 that provide the unique opportunity for an investor to realize near-term upside.

Investment Highlights

  • 1,850 Square Foot Building | 0.689 Acre Hard Corner Parcel
  • 2015 Construction | High Demographic Location in Master Planned Community
  • Major Retailers Adjacent to Property | New Development Ongoing in Area
  • Fronts on High Traffic Highway 90 | 33,500+ Vehicles Per Day
  • National Tenant with Corporate Guarantee | Double Net Lease
  • Structured Rent Increase in 2021 | +/- 6 Years Remaining on Primary Term

Justin Miller

First Vice President Investments

(713) 452-4287
Justin.Miller@marcusmillichap.com

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