Starbucks EXCLUSIVE Coffee LISTING Port St. Lucie, FL Starbucks Coffee Port St. Lucie, FL Actual Site PATRICK NUTT MANAGING PARTNER (954) 302-7365 patrick.nutt@calkain.com CALKAIN.COM 1
Starbucks Coffee Port St. Lucie, FL 2209 SW Gatlin Blvd Port St. Lucie, FL 34953 Asking Price $2,710,000 Cap Rate 4.65% Average Cap Rate in Initial Term 5.03% Net Operating Income (NOI) $126,000 Rent/Month $10,500 Rentable Square Feet Land Area Tenant Name Credit Rating Stock Symbol Guarantor Ownership Type Lease Type Landlord Responsibilities Financial Summary 2,150+/- SF 1.36+/- Acres Starbucks Coffee S&P: A-; Moody s: A3 Nasdaq: SBUX Corporate Fee Simple NN Capital Repairs to Roof*/ Structure/Parking Lot Store Opened February 2018 Rent Schedule Term Increases Annual Rent Monthly Rent Years 1-3 - $126,000.00 $10,500.00 Years 4-7 8% $136,080.00 $11,340.00 Years 8-10 8% $146,966.40 $12,247.17 (Option 1) 10% $161,662.60 $13,471.88 (Option 2) 10% $177,828.86 $14,819.07 (Option 3) 10% $195,611.75 $16,300.98 (Option 4) 10% $215,172.93 $17,931.08 Investment Highlights Traffic signalized corner location near Walmart, The Home Depot and Target with immediate access to and from Interstate 95 Corporate lease guaranty by Starbucks Corporation (S&P: A-) RARE - 8% increase after year 3 and 7 of the primary term Brand new construction - roof has 15 year warranty Tenant responsible for routine maintenance (including pot hole repair & re-striping of parking lot) Lease Term Remaining 10 Years Rent Commencement February 1, 2018 Lease Expiration February 28, 2028 Increases Options 8% After Lease Year 3 and 7, 10% each Option Four (4), Five (5) Year *New Building Comes with 15 Year Roof Warranty 2
Starbucks Coffee Port St. Lucie, FL Tenant Overview About Starbucks Coffee Starbucks Corporation is an American coffee company and coffeehouse chain. The chain was founded in Seattle, Washington in 1971; it operates 25,000 locations in 75 countries. Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, Evolution Fresh juices, Frappuccino beverages, pastries, and snacks; some offerings (including their Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell prepackaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers; select Starbucks Evenings locations offer beer, wine, and appetizers. Starbucks-brand coffee, ice cream and bottled cold coffee drinks are also sold at grocery stores. Actual Site Tenant Snapshot # of Locations 25,000+ Stock Symbol SBUX Credit Rating S&P: A- MOODY S: A3 2017 Revenue $22.38B Market Cap $ 81.5B Actual Site 3
Starbucks Coffee Port St. Lucie, FL Location Overview Tampa Subject Site Vero Beach Port St. Lucie Subject Site 95 Port St. Lucie Fort Myers West Palm Beach Distance To: Vero Beach West Palm Beach 31 miles 50 miles Fort Lauderdale 93 miles Fort Myers 125 miles Tampa 162 miles Fort Lauderdale 4
Starbucks Coffee Port St. Lucie, FL 2209 SW Gatlin Blvd Port St. Lucie, FL 34953 The Landing at Tradition Tradition Village Square Subject Site 95 SW Gaitlin Blvd 5,500 3 I-95 Tradition Pkwy 20,300 VPD VPD Village Pointe Tradition Center for Innovation 95 5
2209 SW Gatlin Blvd Port St. Lucie, FL 34953 Starbucks Coffee Port St. Lucie, FL 95 I-95 On Ramp I-95 35,500 VPD Subject Site SW Gatlin Blvd 20,300 VPD I-95 Off Ramp 6
Starbucks Coffee Port St. Lucie, FL Site Plan 7
Starbucks Coffee Port St. Lucie, FL Demographics Radius 1 Mile 3 Miles 5 Miles Population 2017 Population 4,601 47,484 108,118 2022 Population 4,950 51,146 116,640 2010-2017 Annual Rate 1.79% 1.42% 1.47% 2017-2022 Annual Rate 1.47% 1.50% 1.53% 2017 Male Population 48.7% 48.9% 48.7% 2017 Female Population 51.4% 51.1% 51.3% 2017 Median Age 37.9 39.0 40.9 Households 2017 Total Households 1,471 16,249 38,768 2022 Total Households 1,577 17,435 41,632 2010-2017 Annual Rate 1.74% 1.28% 1.33% 2017-2022 Annual Rate 1.40% 1.42% 1.44% 2017 Average Household Size 3.13 2.92 2.79 Median Household Income 2017 Median Household Income $61,159 $57,442 $54,418 2022 Median Household Income $70,864 $64,462 $60,919 2017-2022 Annual Rate 2.99% 2.33% 2.28% Average Household Income 2017 Average Household Income $81,195 $77,568 $73,195 2022 Average Household Income $95,442 $89,358 $84,283 2017-2022 Annual Rate 3.29% 2.87% 2.86% Per Capita Income 2017 Per Capita Income $26,565 $27,144 $26,337 2022 Per Capita Income $31,090 $31,180 $30,175 2017-2022 Annual Rate 3.20% 2.81% 2.76% 8
Demographic Snapshot 3 Mile Radius Starbucks Coffee Port St. Lucie, FL KEY FACTS Age Pyramid AGE PYRAMID 47,484 Population 2.9 Average Household Size 39.0 Median Age $57,442 Median Household Income 85 75 65 55 45 35 25 15 5 0 The largest group: 2017 Female Population Age 50-54 (Esri) The smallest group: 2017 Male Population Age 85+ (Esri) Dots show comparison to St. Lucie County INCOME BUSINESS $57,442 $27,144 $123,369 773 6,973 Median Household Income Per Capita Income Median Net Worth Total Businesses Total Employees EMPLOYMENT BUSINESSES 67% White Collar Blue Collar Services 18% 15% 7.7% Unemployment Rate 7 Comms (SIC) 2 Securities Broker (SIC) 65 Finance/Real Estate (SIC) 7 Insurance (SIC) 15 Banks (SIC) 9
Port St. Lucie, FL Port St. Lucie is a city in St. Lucie County, Florida. With 174,000 residents, Port St. Lucie is Florida s ninth largest city by population. It occupies an area of 120 square miles on Florida s east coast about 120 miles southeast of Orlando and about 115 miles north of Miami. Average temperatures range from 64 degrees in February to 82 degrees in August, making the city and surrounding area a tourist destination and nature lover s paradise. Young and growing, with the picturesque St. Lucie River winding through it, Port St. Lucie is a mecca for golfers, New York Mets fans, and people with families who love a friendly, small-town atmosphere. Located in the southern part of St. Lucie County, Port St. Lucie boasts all the everyday conveniences of daily life with a unique south Florida charm. Every year the NY Mets bring the excitement of major league baseball spring training to Tradition Field in Port St. Lucie. For most of the city s community and cultural events, the newly constructed Port St. Lucie Civic Center is the place to go. From joyous holiday parades to busy expos and exuberant festivals, the civic center is the city s jewel. If golfing is your passion, you ve made a hole in one. Golfers can spend days playing one perfectly groomed course after another. The city is the home of PGA Village, where three PGA golf courses are open to the public. PGA also boasts a golf learning center, a golf museum and a golf library with materials dating back to the 1920s. Be sure to visit the city s new Port St. Lucie Botanical Gardens near the St. Lucie River. Find spots for launching your canoe, kayak or larger boat and explore the many waterways that wind through the city s neighborhoods. According to BizJournals.com, the city has the highest homeownership rate in the nation in 2012 and is the only major market with a homeownership rate above 75 percent. Starbucks Coffee Port St. Lucie, FL Market Overview 10
Starbucks Coffee Port St. Lucie, FL About Calkain Who Are We? Calkain Companies LLC is a national commercial real estate firm that provides consulting and brokerage services to both private and institutional clientele with an expertise on triple net lease investments. We pride ourselves on being a world class leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, estate planning and wealth management. We have built solid relationships throughout our decades of experience and innovation, implementing long-term allocation within the context of each client s particular risk tolerance and identifying how best to acquire and dispose of income producing properties for each entities specific set of investment criterion. At Calkain, our foresight and past performance are leading the net lease investment industry. Our History Like most success stories, Calkain was formulated from humble beginnings. Jonathan W. Hipp, President and CEO, took the initiative to build upon his decades of experience and performance and left a large international brokerage firm to become an independent and innovative leader within the triple net lease investment community. Armed with a sole employee and a single office, the firm has grown exponentially since its infancy in 2005. $11.5 Billion in Closed Transactions With the growth in staff, seasoned professionals have been attracted to Calkain s model of innovation, entrepreneurship and the fostering of long-lasting and meaningful relationships. Industry experts have joined Calkain in the hopes of implementing the skills they have honed in complementary aspects of real estate investment. Through a tremendous endeavor, tireless hours have been committed to continually prove that Calkain is America s Net Lease Company. Its countless accolades received from the world s leading business publications, including Forbes, Fortune and the New York Times have confirmed that Calkain is a true leader in triple net lease investing services. Client Testimonial USRA has worked with Calkain on numerous occasions. They have always been meticulous in their work ethic, providing superior service and extremely prompt attention to our needs. I highly recommend them. - Jack Genende, Partner U.S. Realty Advisors, LLC. (USRA) $350 Million in Active Listings PATRICK NUTT MANAGING PARTNER (954) 302-7365 patrick.nutt@calkain.com CALKAIN.COM 11
Contact Us Corporate Headquarters Washington, DC 12930 Worldgate Drive Suite 150 Herndon, VA 20170 T: (703) 787-4714 F: (703) 787-4783 Fort Lauderdale 200 SW 1st Avenue Suite 880 Fort Lauderdale, FL 33301 T: (813) 282-6000 Atlanta 111 Village Parkway, Building 2 Suite 202 Marietta, GA 30067 T: (404) 900-5629 Boston 101 Federal Street Suite 1900 Boston, MA 02110 T: (617) 261-8584 CALKAIN.COM DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.