JLL is pleased to offer for sale the fee simple interest in a newly-built Starbucks drive-thru (the “Property” or “Asset”) located in Hope Hull, Alabama. The Property is leased to Starbucks Corporation (“Starbucks”), the largest specialty coffee retailer in the world with over 32,000 locations and annual revenues of $24 billion. Starbucks operates on a double-net lease structure that features ten years of primary lease term, 10% rental increases every five years, and four five-year renewal options. This offering presents the opportunity to acquire a newly constructed, drive-thru asset located in a business-friendly and rapidly growing southeastern state.
• The asset is located in Hope Hull, AL, an unincorporated community and part of the capital city of Montgomery.
• The property is the first interstate site on I-65 south of downtown Montgomery.
• The Property is strategically located on U.S. Highway 31 in a dense retail & hotel corridor with direct access to I-65, which runs through the town of Montgomery.
• Montgomery (and Hope Hull) are beneficiaries of the business-friendly environment in Alabama, which boasts some of the lowest property tax rates in the country.
• Montgomery is the third most populous city in Alabama and has a large military presence due to the Maxwell Airforce Base. It is also the main healthcare hub for central Alabama.
• The diverse economy of the city extends to traditional business sectors. Hyundai has a factory two miles east of the site and employs more than 3,000 people there.