[ REP PHOTO ] starbucks SEASIDE, OR Brand New construction Drive-Thru location 420 South Roosevelt Drive, Seaside, OR 97138
STARBUCKS investment grade credit tenant with Standard & Poor s credit rating of A-. Brand new, high-quality construction equipped with drive-thru. Scheduled Rent bumps of 10% every five years throughout primary term and options. NNN lease structure provides limited Landlord responsibility. First drive-thru coffee shop visible to north-bound traffic entering the trade area from Portland. Highly-exposed location with frontage on Highway 101, the primary arterial extending through the city & west coast. Situated along primary retail corridor directly across from Safeway and in close proximity to Seaside Outlets. Growing economy based on tourism with a 6% increase in tourism dollars from 2010-2014. Brand new build-to-suit Starbucks drive-thru on a 10- year term with rent growth. The Property has frontage on Highway 101 in Seaside, Oregon and benefits from a dynamic mix of local and national retailers, including Seaside Outlets and Safeway directly across the street. Seaside has a stable, growing economy based on tourism, receiving the seventh highest amount of tourism dollars in the state. PRICE: $2,378,900 CAP: 4.75% LEASABLE SF.... ±1,950 SF LAND AREA.... ±14,652 SF LEASE TYPE............................. NNN YEAR BUILT....2017 (Under Construction) TURNOVER DATE....September 6, 2017 RENT COMMENCEMENT (ESTIMATED)...November 1, 2017* EXPIRATION....October 31, 2027 PARKING....±13 Spaces or 6.7/1,000 SF *Rent to commence by 11/1/2017. Rent to commence the earlier to occur of 1) the date Tenant opens for business, or 2) 120 days following the later to occur of (i) the Commencement Date, or (ii) Tenant s receipt of all permits,variances, and construction approvals. ADDRESS: 420 S Roosevelt Drive, Seaside, OR 97138 STARBUCKS - SEASIDE 2
Retail SURROUNDING AREA RETAIL ACE Hardware HR Block KFC McDonald s Napa Auto Parts Papa Murphy s Pizza Hut Rite Aid Subway Taco Bell Taco Time SEASIDE FACTORY OUTLET CENTER Bath and Bodyworks Carter s Eddie Bauer Famous Footwear GNC Helly Hansen BROADWAY STREET SHOPS Nike Factory Outlet Pendleton Outlet Rue 21 Toys R Us Van Heusen Zumiez SEASIDE AQUARIUM SEASIDE CAROUSEL MALL SEASIDE CIVIC & CONVENTION CENTER 14,200 DAILY 101 BROADWAY FIELD Bagels by The Sea Dairy Queen Dooger s Seafood & Grill Holiday Inn Express Norma s Seafood & Steak HOTELS Pig N Pancake Rivertide Suites Seaside Brewing Company STARBUCKS S ROOSEVELT DR BROADWAY MIDDLE SCHOOL BROADWAY ST Beachside Inn Inn at the Prom Best Western Ocean View Resort Hi-Tide Oceanfront Inn Ebb Tide Oceanfront Inn Paradise Suites & Vacation Rentals Hillcrest Inn & Hillcrest Home Inn at Seaside River Inn at Seaside Riverview Inn H&R BLOCK Seashore Inn Coast River Inn Shilo Inn Suites Oceanfront Hotel Shilo Inn Suites Ashore Hotel PROVIDENCE SEASIDE HOSPITAL Hwy 26 towards Portland 4 miles STARBUCKS - SEASIDE 3
Site Plan SITE PLAN KEY PARCEL OUTLINE: LAND AREA: BUILDING AREA: PYLON SIGN: TRASH/RECYCLE: INGRESS/EGRESS: ±14,652 SF ± 1,950 SF PRIME LOCATION FIRST MAJOR COASTAL TOWN VISIBLE TO NW- BOUND TRAFFIC FROM PORTLAND 14,200 DAILY s irvine pl DRIVE-THRU S roosevelt drive 101 Site Plan Not To Scale STARBUCKS - SEASIDE 4
Elevations NORTH ELEVATION NOT TO SCALE SOUTH ELEVATION NOT TO SCALE STARBUCKS - SEASIDE 5
Elevations Cont. EAST ELEVATION NOT TO SCALE WEST ELEVATION NOT TO SCALE STARBUCKS - SEASIDE 6
Financial Summary 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. STARBUCKS - SEASIDE 7
Rent Roll 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. 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. STARBUCKS - SEASIDE 8
Demographics DAILY POPULATION INCREASES BY ~30% WITH TOURIST ACTIVITY 1, 3, 5 MILE RADIUS DEMOGRAPHICS POPULATION 1-Mile 3-Mile 5-Mile 2010 4,966 7,897 8,774 2017 5,123 8,229 9,174 2022 5,265 8,503 9,496 2017 HOUSEHOLD INCOMES 1-Mile 3-Mile 5-Mile Median $40,677 $43,454 $44,084 Average $56,228 $59,186 $59,620 5, 10, 15 MINUTE DRIVE DEMOGRAPHICS POPULATION 5 Min 10 Min 15 Min 2010 6,378 2,055 2,901 2017 6,630 2,163 3,016 2022 6,841 2,249 3,120 2017 HOUSEHOLD INCOMES 5 Min 10 Min 15 Min Median $42,176 $48,743 $49,737 Average $57,293 $66,281 $67,530 5 MINUTES 10 MINUTES 15 MINUTES 1-Mile radius STARBUCKS SEASIDE 3-Mile radius 5-Mile radius DRIVE TIMES FROM STARBUCKS SEASIDE Portland, OR 80 miles 1 hr 33 mins Long Beach, WA 33 miles 52 mins STARBUCKS - SEASIDE 9
About Seaside, OR OVERVIEW Seaside is a coastal resort town located about 80 miles northwest of Portland and 18 miles south of where the Columbia River meets the Pacific Ocean. Seaside is one of the most visited and popular oceanfront communities and draws thousands of visitors a year for events such as the world s largest volleyball tournament and some of the best razor clamming in the United States. TOURISM Seaside also offers a wide variety of activities for tourists such as the Seaside Aquarium, restaurants and outlets, as well as numerous outdoor activities, including kayaking, a 1.5-mile historic beachfront promenade, and many hikes. One of the Oregon Coast s most desired tourist destinations, Clatsop County receives the 7th highest amount of tourism dollars spent in Oregon, with $552 million spent and 7,392,000 people who stayed at least one night in some vacation/rental capacity in 2016. ECONOMY Tourism drives the local economy, although fishing and timber continue to comprise a large portion of the city s employment base as Georgia-Pacific Corporation s Wauna Paper Mill is Clatsop County s largest employer. 7 th 17% 22% WORKFORCE TIED TO TOURISM INDUSTRY HIGHEST CITY IN TOURISM DOLLARS RECEIVED INCREASE IN TOURISTS FROM 2014-2015 STARBUCKS - SEASIDE 10
[ REP PHOTO ] SEAN MACK smack@capitalpacific.com (503) 675-8378 SCOTT FRANK sfrank@capitalpacific.com (503) 675-8383 KEVIN ADATTO kadatto@capitalpacific.com (503) 675-7726 PETER DUNN pdunn@capitalpacific.com (503) 607-0197 MICHAEL HORWITZ mhorwitz@capitalpacific.com (503) 675-8381 SEAN TUFTS stufts@capitalpacific.com (206) 693-3352 DAVID GELLNER dgellner@capitalpacific.com (206) 693-3349 [ Copyright 2017 Capital Pacific LLC ]