CBRE’s Net Lease Property Group is pleased to offer for sale a single-tenant Starbucks drive-thru investment opportunity in Colorado Springs, CO. The opportunity features a new ±10-year net lease with ±9 years remaining and 10% rental increases every 5 years. Starbucks (NASDAQ: SBUX), the world’s largest coffeehouse company, has an investment-grade S&P credit rating of BBB+ and operates ±41,129 stores globally.
The Property is located at Polaris Pointe, a ±200-acre mixed-use district anchored by the ±8,000 seat Ford Amphitheater, Bass Pro Shops, Top Golf, over 1,200 multi-family units, ±60 businesses, and a ±375-room hotel, with more coming soon. The Ford Amphitheater was ranked as the 4th best outdoor music venue in the U.S. by USA today and targets 50-60 shows per summer, with an expected annual economic impact of over $1 billion in the next decade. The Property has frontage and visibility along Voyager Pkwy and Spectrum Loop and is just off I-25 (±111,000 VPD). The Property will benefit from the Powers Blvd Extension, a major project connecting Powers Blvd and Highway 83 (CO-83) to the I-25 at Voyager Pkwy, directly serving the Property. The Classical Academy (±2,893 students) and Discovery Canyon High School (±1,048 students) are within ±5 minutes. The Air Force Academy (±4,000 students) and Falcon Stadium (±500,000 annual visitors & ±46,692 seats) are ±10 minutes west. This location boasts an affluent average household income of ±$188,252 and a population of ±72,259 in a 5-mile radius (Source: Esri).