The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Starbucks property located at 10021 NW Hwy 287 in Fort Worth, Texas for $2,700,000.
Starbucks is strategically positioned just west of US 287 (64,529 VPD), in proximity to Interstate 35W (153,554 VPD). The property benefits from its location in an income tax-free state within the nation’s 4th most populous metropolitan area.
Tenants nearby include McDonald’s, Shipley Do-Nuts, Exxon, and several large, upscale multi-family developments built within the last few years. The surrounding area has favorable demographics, with a population of 156,249 within a 5-mile radius and an average household income of $124,788 within 5 miles.
The property has brand new construction and is operating under a 10-year lease scheduled to commence this September.
Starbucks is a publicly traded company on the NASDAQ (SBUX) with a market capitalization in excess of $104 billion. Starbucks is an investment grade-rated company with a Standard & Poor’s rating of BBB+. As of 2023, Starbucks operates over 38,000 stores globally. Starbucks Corporation was founded in 1985 and is headquartered in Seattle, Washington.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction. The buyer is a New York-based high-net-worth individual and the seller is a Texas-based developer.
“E-commerce resistant tenants like Starbucks continue to sell in this economic environment,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Private investors gravitate towards assets in income tax-free states with investment grade rated tenants.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2023, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
More info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html