Overview
Atlantic Capital Partners is pleased to present for sale the newly constructed Starbucks located at 399 Union Street in Ashland, Massachusetts. This 2,575 SF build-to-suit prototype opened for business in July ‘24 and is strategically situated at the intersection of Union and Summer Street, and is flanked by both a middle school, high school as well as an MBTA commuter rail stop.
The site benefits from excellent visibility and strong local demographics. Starbucks committed to a newly casted 10-year Lease, with four five-year renewal options. The lease includes 10% rent escalations through the initial term, and at the start of each option period, with a current annual rent of $175,000. This investment combines the advantages of new construction, limited landlord responsibilities, and a stable, long-term passive income stream.
Investment Highlights
NEW CONSTRUCTION
New construction limiting ownership’s exposure to capital repairs during the hold period
NEW 10-YEAR LEASE & MINIMAL LANDLORD RESPONSIBILITIES
NN lease leaves minimal Landlord Responsibilities (Roof, Structure, Parking)
ATTRACTIVE RENTAL INCREASES
10% rent increase every 5 years including option periods with no early termination
CORPORATE GUARANTY FROM INVESTMENT-GRADE TENANT
Starbucks has a Market Cap of $105.8B (NASDAQ: SBUX) with over 15,000 locations across the country (S&P: BBB+)
ROBUST DEMOGRAPHICS
Densely Populated Trade Area with 5-mile population of 119,110 people earning over $175,332
EXCELLENT EXPOSURE ALONG MAIN THOROUGHFARE
Located at the corner of Union Street (US 135) and Summer Street, this asset features high visibility and daily average traffic counts of 15,300 VPD
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