Horvath & Tremblay is pleased to present the exclusive sale of a corporate leased Starbucks investment property located at 3019 George Washington Memorial Highway in Hayes, Virginia (the “Property”). Starbucks is operating under a rare, 15-year lease, and is followed by six (6), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option.
Starbucks is located along the George Washington Memorial Highway (US Highway 17) and enjoys excellent visibility, frontage, and prominent signage. The new construction Property is adjacent to the signalized intersection with Powhatan Drive, which is home to Wendy’s, Chesapeake Bank, and 7-Eleven, and is less than 1.2-miles from the area’s two grocery anchored shopping centers. Hayes is located in the southeastern part of Virginia and is 16-miles north of Newport News, 40-miles north of Norfolk, and 65-miles southeast of Richmond.