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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in the multi-tenant Starbucks and Sleep Outfitters net-lease Property located at 14561 Highway 231-431 North, in Hazel Green, AL (the “Property” or “Asset”). The newly constructed Asset is 100% leased to Starbucks Corporation & Sleep Outfitter's USA, LLC (the “Tenants). The Tenants recently executed brand-new 10 & 7-year leases, respectively (8.4 WALT).
Hazel Green is less than 15-miles north of Huntsville, AL. The Huntsville MSA recorded 17.0% population growth over the last decade, well above the national average of 10.0%.The Asset is situated on a Walmart outparcel along Highway 234-431 S (22,000+ VPD), a main retail thoroughfare with numerous surrounding national retailers including Walgreens, Dollar General, Dollar Tree, Zaxby’s, Arby’s, Taco Bell, and Burger King.
The site is directly adjacent to a 600+ residential home development & a planned 300-unit multifamily development. There are 7 additional outparcels situated directly to the south of the Property (4 outparcels currently under construction).
- Newly constructed Drive-Thru Starbucks + Sleep Outfitters
- Situated on a highly trafficked Walmart out-parcel.
- Walmart recorded 1.8 million visitors annually - Top 75% location within a 30-mile radius.
- Significant new development directly adjacent to the site.
- ± 900 residential / multifamily units & 7 additional outparcels under development.
- 14-miles north of Huntsville, AL.
- Investment Grade Tenancy (Starbucks S&P: BBB+).
- Sleep Outfitters operates 102 stores across the southeast.
- Absolute triple-net lease's with attractive rent bumps & 8.4 years of WALT.
BROKER OF RECORD: Elizabeth Walker Teague