STARBUCKS - LoopNet · STARBUCKS 4.85% CAP $1,814,000 PRICE New construction Corporate Starbucks...

NOR

LITTLETON, CO

RECENTLY OPENED CORPORATE STARBUCKS WITH DRIVE-THRU

STARBUCKS

OPENED SEPT. 13

BRAND NEW OUTPARCEL WITHIN THE WOODLAWN SHOPPING CENTER IN AFFLUENT DENVER SUBURB

OPENED SEPT. 13

COMING SOON

2

STARBUCKS

4.85%CAP

$1,814,000PRICE

New construction Corporate Starbucks

Outparcel within the WoodLawn Shopping Center (92% occupied)

10-year net lease; no early lease termination

Relocation of successful store from nearby King Soopers Center

Littleton is an affluent suburb of Denver, with Average Household Incomes of $111,787 within a 5-mile radius

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

LEASABLE SF2,000 SF

LEASE TERM10 Years

LEASE TYPECorp. Net Lease

LAND AREA0.7 AC

YEAR BUILT2019

PARKING28 Spaces

1500 W LITTLETON BLVD, LITTLETON, CO 80120

3

Overview

https://www.google.com/maps/place/Woodlawn+Center/@39.6129273,-105.005574,603m/data=!3m1!1e3!4m5!3m4!1s0x0:0x7a8d8ad6bb33fad0!8m2!3d39.6121534!4d-105.005784




THE OFFERING provides an investor with the opportunity to acquire a build-to-suit Starbucks drive-thru outparcel within the WoodLawn Shopping Center in Littleton, CO. Construction was recently completed on the subject property, and Starbucks commenced a 10-year lease on September 13, 2019. The lease structure features defendable rents with 10% rental increases every five years, in addition to four 5-year extension options. Starbucks relocated from the King Soopers anchored shopping center just east of the subject property on W Littleton Boulevard, reflecting the appeal of being positioned within the WoodLawn center. W Littleton Boulevard is a well-trafficked road running east-west (24,758 VPD), which connects South Broadway to U.S. Route 85, which is the main north-south arterial that funnels into downtown Denver (62,668 VPD).

Contact the team

RELOCATION OF SUCCESSFUL STORE FROM KING SOOPERS CENTER LOCATED DOWN THE STREET


THE RETAIL MARKET - Littleton has a strengthening economy that has coincided with the impressive ongoing growth taking place in Denver. This spillover effect has led to increases in development in Littleton, which has received a 200% increase in development applications over the last five years. Neighboring retailers within the WoodLawn center include a mix of daily needs tenants that include Family Dollar, Anytime Fitness, Sherwin-Williams, as well as Dollar Tree which is moving into the center later this fall. To the east of the subject property is Littleton High School (1,200+ students), and to the southwest is the Arapahoe Community College (20,000+ students).

CHRIS [email protected]: 415.274.2701CA DRE# 01002010

ZEB [email protected]: 415.274.2702CA DRE# 01242540


JACK [email protected]: 415.274.2705CA DRE# 01909630

IN CONJUNCTION WITHCO LICENSED BROKER:David LeutholdLeuthold Commercial Properties303.871.9000

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Investment Highlights

85

85

W LITTLETON BOULEVARDW ALAMO AVENUE

W MAIN STREET

W BOWLES AVENUE

E LITTLETON BOULEVARD

S B

ROA

DW

AYS

BRO

AD

WAY

S W

IND

ERM

ERE

STRE

ETS

WIN

DER

MER

E ST

REET

12,745 VPD

31,916 VPD

58,640 VPD

SCHOOL

ARAPAHOE COUNTY

ARAPAHOE COUNTY

CITY OF LITTLETON

CITY OF LITTLETON

CITY OF LITTLETON

HIGH SCHOOL

GOLF COURSE

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ARAPAHOE COMMUNITY

COLLEGE

DENVER SEMINARY

22,490 VPD

24,758 VPD

62,668 VPD

DENVER(11 MILES)

5This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

LIG

HTR

AIL

LIGH

TRAI

L

DOWNTOWN LITTLETON

THE SUBJECT PROPERTY IS LESS THAN 1/2 MILE FROM THE

LITTLETON DOWNTOWN RTD LIGHT RAIL STAION

LITTLETON DOWNTOWN

STATION

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Zoomed-In Aerial

85

85

85

285

285

BROADWAYBROADWAY

W B

OW

LES

AVEN

UE

W L

ITTL

ETO

N

BO

ULE

VARD

31,916 VPD

76,000 VPD

51,957 VPD

58,640 VPD

32,950 VPD

76,000 VPD

ARAPAHOE COMMUNITY

COLLEGE

SWEDISH MEDICAL CENTERCRAIG

HOSPITAL

ACADEMY

ACADEMY

SCHOOL

SCHOOLSCHOOL

MIDDLE SCHOOL

MIDDLE SCHOOL

HIGH SCHOOL

HIGH SCHOOL

MUSEUM OF

OUTDOOR ARTS

HIGH SCHOOL

HIGH SCHOOL

HIGH SCHOOL

CITY OF SHERIDAN

GOLF COURSE

GOLF COURSE

GOLF COURSE

GOLF COURSE

SPORTS COMPLEX

GOLF COURSE

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

DENVER SEMINARY

24,758 VPD


DENVER(11 MILES)

6

Zoomed-Out Aerial

Family DollarAnytime FitnessSherwin Williams7-ElevenUSPSArc Thrift StoreMetro by T-Mobile

King SoopersChipotleWells Fargo BankSubwayTeslaRomano’s PizzeriaTaylor Automotive

Littleton CafeWoodlawn LiquorsWash House LaundromatTaco House


Submarket Overview

RETAILERS IN CLOSE PROXIMITY INCLUDE:

BUSINESS SUMMARY

KEY 1-MILE 3-MILES 5-MILES 7

LITTLETON

ENGLEWOOD

HIGHLANDS RANCH

CENTENNIAL

TOTAL 1-MILE 3-MILES 5-MILES

Businesses 1,070 4,950 12,100

Employees 10,454 49,698 122,275

Residential Population 15,505 95,153 280,317

Avg Household Incomes $69,649 $103,682 $111,787

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Surrounding Retail


PRICE $1,814,000 Price Per Square Foot: $907.00

Capitalization Rate: 4.85%

Total Rentable Area (SF): 2,000

Lot Size (AC): 0.70

STABILIZED INCOME PER SQUARE FOOTScheduled Rent $44.00 $88,000

Effective Gross Income $44.00 $88,000

LESS PER SQUARE FOOTTaxes NNN $0.00

Insurance NNN $0.00

Total Operating Expenses NNN $0.00

EQUALS NET OPERATING INCOME $88,000

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Income & Expense


TENANT INFO LEASE TERMS RENT SUMMARY

TENANT NAME SQ. FT. CURRENT RENT

MONTHLY RENT

YEARLY RENT

MONTHLY RENT/FT

YEAR RENT/FT

Starbucks 2,000 09/13/19 09/30/24 $88,000 $7,333 $88,000 $3.67 $44.00

10/01/24 09/30/29 $8,067 $96,800 $4.03 $48.40

Option 1 10/01/29 09/30/34 $8,873 $106,480 $4.44 $53.24

Option 2 10/01/34 09/30/39 $9,760 $117,120 $4.88 $58.56

Option 3 10/01/39 09/30/44 $10,737 $128,840 $5.37 $64.42

Option 4 10/01/44 09/30/49 $11,810 $141,720 $5.91 $70.86

TOTALS: 2,000 $88,000 $7,333 $88,000 $3.67 $44.00

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Rent Roll

BASE RENT

DATE RANGE MONTHLY RENT ANNUAL RENT

09/13/19 - 09/30/24 $7,333 $88,00010/01/24 - 09/30/29 $8,067 $96,800

OPTION RENTS

DATE RANGE MONTHLY RENT ANNUAL RENT

10/01/29 - 09/30/34 $8,873 $106,48010/01/34 - 09/30/39 $9,760 $117,12010/01/39 - 09/30/44 $10,737 $128,84010/01/44 - 09/30/49 $11,810 $141,720

RENT

TENANT Starbucks Corporation BUILDING SF 2,000 SFLOT SIZE 0.70 ACLEASE TYPE Corporate Net LeaseLEASE COMMENCEMENT September 13, 2019TERM 10 YearsOPTIONS Four 5-year

PREMISES& TERM

TAXESTenant shall reimburse landlord for the payment of taxes.

TENANT’S OBLIGATIONSTenant is responsible for all maintenance and repair to the non-structural portions of the Premises, including the HVAC unit.

LANDLORD’S OBLIGATIONSLandlord is responsible for the maintenance and repair of the common areas, as well as the roof and structure of the building.

COMMON AREA EXPENSESTenant reimburses landlord for its pro rata share of common area operating expenses and shall not exceed 105% of the payment for the previous lease year (excluding utilities, trash, and snow/ice removal).

INSURANCETenant shall maintain: (1) Liability insurance with limits no less than $1 million per occurrence and $2 million in aggregate, naming landlord as additional insured; and (2) commercial property form insurance covering the replacement cost of tenant’s trade fixtures, equipment and inventory.

Landlord shall maintain: (1) Liability insurance with limits no less than $1 million per occurrence and $2 million in aggregate, naming tenant as additional insured; and (2) commercial property insurance covering the replacement cost of the building and parcel. Tenant reimburses landlord for insurance expenses.

UTILITIESTenant is responsible for direct payment of all utilities to the appropriate billing authority.

ASSIGNMENT/SUBLETTINGTenant may assign or sublet without landlord’s consent, but with at least 30 days prior written notice, and shall remain liable for the lease obligations.

ESTOPPEL CERTIFICATESTenant shall deliver to landlord an executed Estoppel Certificate within 30 days of written notice.

EXPENSES

LEASEPROVISIONS

The details contained within the Lease Abstract are provided as a courtesy to the recipient for purposes of evaluating the Property’s suitability. While every effort is made to accurately reflect the terms of the lease document(s), many of the items represented herein have been paraphrased, may have changed since the time of publication, or are potentially in error. Capital Pacific and its employees explicitly disclaim any responsibility for inaccuracies and it is the duty of the recipient to exercise an independent due diligence investigation in verifying all such information, including, but not limited to, the actual lease document(s).

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Lease Abstract

W LITTLETON BOULEVARD

AVAILABLE 2,400 SF

AVAILABLE 3,518 SF

AVAILABLE 2,160 SF

S D

ATU

RA S

TREE

T

S W

IND

ERM

ERE

STRE

ET

PYLON SIGN

LAUNDROMAT

KOSHA YOGA

GEKKO VAPES

EL LUSERO

CLIFF AUSTIN FINE ARTS

PHO-HEIN RESTAURANT

LITTLETON NAILS & SPA

LIQUOR STORE

GT JEWELRY

HARLEY’S HOT DOGS

CHRISTIAN SCIENCE

BOOK STORE

WOODLAWN VETERINARY

HOSPITAL

24,758 VPD

7,841 VPD


COMING SOON

STATE BEAUTY SUPPLY

LUIS’ DINER

NOT A PART

MONUMENT SIGNBUS STOP

INDIA’S BEST

12

Site Plan


ABOUT STARBUCKS

2018 RANKINGS

#5 - FORTUNE’S list of world’s most admired companies #132 - FORTUNE 500 list #30 - FORBE’S World’s Most Innovative Companies

The world’s #1 specialty coffee retailer, Starbucks has more than 29,000 coffee shops in 78 countries, and over 291,000 employees. The outlets offer coffee drinks and food items, as well as roasted beans, coffee accessories, and teas.

2018 NET REVENUES$24.7B

LOCATIONS IN THE AMERICAS17,450+

In 2018, the chain had a net revenue of $24.7 Billion, and an operating income of $4.4 Billion. Starbucks has a credit rating of A- from Standard & Poor, and is traded on the NASDAQ under SBUX.

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Tenant Overview

POPULATION

1-MILE 3-MILES 5-MILES

2010 14,559 87,775 256,714

2019 15,505 95,153 280,317

2024 16,376 101,012 296,295

2019 HH INCOME

1-MILE 3-MILES 5-MILES

Average $69,649 $103,682 $111,787 LITTLETON

DENVER (11 MILES)

THE AVERAGE HOUSEHOLD INCOME WITHIN A 5-MILE RADIUS

IS OVER $111K


AURORA

BROOMFIELD

LAKEWOOD

CENTENNIAL

TOP EMPLOYERS IN DENVER MSA

EMPLOYER # OF EMPLOYEES

Denver International Airport 35,000

Lockheed Martin 14,000

HealthONE Corporation 11,050

Centura Health 8,310

SCL Health Systems 8,270

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Demographics

Location Overview

LITTLETON is a small community just 11 miles south of Denver. It is easily accessible from downtown Denver via the RTD Light Rail, U.S. Route 85, and bike along the Platte River Trail and Mary Carter Greenway Trail.

Historic Downtown Littleton has a charm all its own, from turn-of-the-century buildings and antique shops to cozy, relaxed eateries, restaurants and bars. Littleton has nearly 1,500 acres of parks and open space, including Hudson Gardens, which encompasses thirty acres of garden exhibits, trails, natural terrain, and event venues.

704,621+DENVER POPULATION (ESTIMATED)


DENVER, CO

LITTLETON,COLORADO

DENVER is the capital and most populous city in Colorado with a population exceeding 700,000 residents. The Denver MSA had a gross domestic product of $214 billion in 2017, making it the 18th largest metropolitan area economy in the United States. The city’s relatively central location makes it a natural location as a distribution hub for the American west, while also supporting a number of growing industries in technology, telecommunications, and energy.

Employment in Denver had an increase of 2.5% between February 2017 and 2018, which is an additional 40,800 jobs. The unemployment rate in the Denver MSA is at 3.0%, lower than the U.S. average of 3.7%.

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Location Overview

Denver MSA


DENVER UNION STATION

DENVER MSA Denver, known as the Mile High City, rests on the eastern edge of the

Rocky Mountains at 5,280 feet in elevation. The Denver MSA is home to 10 Fortune 500 company headquarters, including DaVita, DISH Network, Western Union, Ball Corporation,

Arrow Electronics, Molson Coors Brewery, Qurate Retail, DCP Midstream, Liberty Media, and Newmont Mining.

The city is home to many nationally recognized museums, the second largest performing arts center in the nation, and three downtown stadiums hosting the city’s football, baseball, basketball, and hockey teams. Denver has gained a reputation as being a very active, outdoor oriented city because of its proximity to the mountains and generally sunny weather. Denver was ranked the #2 Best Place to Live in 2019 by U.S. News & World Report, and #4 on Forbes 2018 List of Best Places for Business and Careers.

GENERAL STATSLARGEST CITY IN COLORADO

5TH LARGEST MSA IN THE U.S.

#2 BEST PLACE TO LIVE IN 2019 BY U.S. NEWS & WORLD REPORT

3% UNEMPLOYMENT RATE IN METRO

1.74 MILLION JOBS IN THE METRO

#4 BEST PLACES FOR BUSINESS AND CAREERS BY FORBES

2ND LARGEST INCREASE IN WORKERS IN 2018 - LINKEDIN

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LOCAL DEVELOPMENTS


TECH BOOM

The Denver MSA has experienced a 63% growth in tech companies from 2010 to 2017, and a 74% increase in tech employment in Downtown Denver

Tech jobs account for 10.3% of the Colorado workforce, the fifth highest percentage in the United States

The tech sector’s economic impact in the state is $48 billion, or 14.5% of the overall economy

Many tech firms are expanding into Denver due to affordability (avg. rents are $1,468 compared to $3,084 in San Francisco)

DYNAMIC BUSINESS ENVIRONMENT

Denver’s labor force grew by over 58,000 people in 2018

No single industry accounts for more than 18% of Denver’s employment

Denver has the 5th ranked economy in the U.S. among large cities

Denver has 772 startups compared to 411 in 2010, ranking it 5th in the startup activity index for major metros

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Economic Snapshot

RIVER MILE IS A PROPOSED MIXED-USE REDEVELOPMENT OF A 62-ACRE SITE along the South Platte River in Downtown Denver. Formerly the Elitch Gardens amusement park, the site will include residential, office, retail and restuarant uses, as well as a variety of public spaces. Development is expected to be built in phases over a 25-year period.

AMAZON ANNOUNCED PLANS TO OPEN A NEW DOWNTOWN DENVER OFFICE and create an additional 400 tech jobs in the city. This will more than double the tech workforce in the city’s metro area. Amazon’s new 98,000 square foot office will be located in Denver’s Lower Downtown neighborhood. Together with its customer fulfillment and retail facilities, the company has created more than 3,500 full-time jobs in Colorado.

AEROTROPOLIS IS A PLANNED DEVELOPMENT ON 21,000 ACRES of land just south of the Denver International Airport. The project will bring new businesses and housing, including 23,000-unit housing development. Plans are moving forward after the Aerotropolis Regional Transportation Authority voted in May 2019 to issue a bond for $200 million in infastructure improvements.

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We’d love to hearfrom you.


ZEB [email protected]: 415.274.2702CA DRE# 01242540


JACK [email protected]: 415.274.2705

CA DRE# 01909630


IN CONJUNCTION WITHCO LICENSED BROKER:David LeutholdLeuthold Commercial Properties303.871.9000

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:

JOE CACCAMOJOHN ANDREINI

ZANDY SMITH

DAVE LUCAS

RICK SANNER

CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS

JACK NAVARRAJUSTIN SHARP

JUSTIN STARK SAMANTHA TULLIO

STARBUCKS - LoopNet · STARBUCKS 4.85% CAP $1,814,000 PRICE New construction Corporate Starbucks...

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