NEW CONSTRUCTION STARBUCKS DRIVE-THRU BUILDING

• Starbucks will occupy the subject property on a 10-year double-net (NN) lease with minimal landlord responsibilities upon construction completion (Q4 2024)
• 2,226 SF pad site building with drive-thru
• 10% rental increases every five years and four five-year options to renew

PAD SITE TO COMMUNITY CORNERSTONE WALMART NEIGHBORHOOD MARKET

• The subject property shares ingress and egress with a strong performing Walmart Neighborhood Market grocery store
• The adjacent Walmart Neighborhood Market saw 1.23 million visits in the last twelve months (Placer.ai) and ranks in the 89th percentile of all grocery stores in Texas (464th/4321). Despite competing against Texas’ largest grocer, H-E-B, this Walmart Neighborhood Market, dominates the 78596 zip code (Weslaco, TX). 74.5% of the 1.23 million visits were garnered from just one zip code (58.61 SqMi)
• This Walmart Neighborhood Market as seen a 27.9% increase in foot traffic over the last three years. Lastly, the visitors of the Walmart Neighborhood Market visited at a rate of 11.62x over the last twelve months. Meaning, the grocer primarily serves 105.7k loyal customers

STARBUCKS IS THE LARGEST COFFEE USER IN THE WORLD

• Investment grade level S&P credit rating of BBB+
• Brian Niccol, the previous CEO of Chipotle, joined as Starbucks CEO in September 2024. Since his arrival, Starbuck’s stock (SBUX) saw exponential growth of +/-25%
• As of their FY Q3 2024, Starbucks has 39,477 locations globally with plans in place to reach 55,000 locations by 2030. Global Net Revenue during FY Q3 2024 was $9.1B, with 75% of sales originating from North America

LOCATED AT SIGNALIZED INTERSECTION

• The subject property is just off the northwest corner of W 18th St & Texas Blvd which see a combined 16,500 VPD.