|Current / Passing Rent||
|Remaining Term||9 years, 8 months|
JLL is pleased to offer for sale the fee simple interest in a freestanding Starbucks (the “Property” or “Asset”) located in Hammond, Indiana (Chicago MSA).
The Property is a newly constructed, freestanding retail building leased to Starbucks, the world’s leading coffee provider with over 30,000 retail locations and $24.7 billion in annual revenue. Starbucks is operating on a newly-signed net lease with ten years of primary term remaining and ten percent rental increases every five years throughout the primary term and renewal options. Located along Indianapolis Boulevard (30,000 VPD) and proximate to Interstate 90 (50,000 VPD), the Property sits within a highly-trafficked thoroughfare that includes the area’s largest employers including Walmart, Horseshoe Hammond Casino, Cargill, and Unilever. This offering presents the opportunity to acquire a brand new retail asset leased to an investment-grade and industry-leading tenant with minimal landlord obligations.
- Located in Chicago MSA with over 168,000 residents in a five-mile radius
- Newly-constructed property with modern drive-thru format
- Located on signalized intersection along Indianapolis Boulevard (30,000 VPD)
- Newly-signed ten-year least to Starbucks (Moody's 'Baa1')
- Net lease structure with ten percent rental increases every five years throughout the primary term and renewal options
- Located near Horseshoe Casino, Indiana's largest casino with 3.3 million annual visitors