28060 Clinton Keith Road, Murrieta, CA 92562
The subject property is a brand-new construction ±2,200 square foot Starbucks drive-thru located in Murrieta (Riverside County), California. The building was constructed on a build-to-suit basis and is outparcel to a brand-new construction Costco Wholesale which is scheduled for a September 2021 delivery. Starbucks signed a ten-year triple net lease with ten percent (10%) rental increases every five years, and in each of the four, five-year option periods. Starbucks (NYSE: SBUX), a publicly traded company with an investment grade credit rating of “BBB+” by Standard & Poor’s, has a market cap of $119 billion and annual revenue of $26.5 billion (2019).
The subject property is a brand-new construction ±2,200 square foot Starbucks drive-thru located in Murrieta (Riverside County), California. The building was constructed on a build-to-suit basis and is outparcel to a brand-new construction Costco Wholesale which is scheduled for a September 2021 delivery. Starbucks signed a ten-year triple net lease with ten percent (10%) rental increases every five years, and in each of the four, five-year option periods. Starbucks (NYSE: SBUX), a publicly traded company with an investment grade credit rating of “BBB+” by Standard & Poor’s, has a market cap of $119 billion and annual revenue of $26.5 billion (2019).
