NEW STARBUCKS WASCO, CALIFORNIA - OFFERING MEMORANDUM - LoopNet
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OFFERING MEMORANDUM
NEW STARBUCKS
WASCO, CALIFORNIA
Exclusively Offered By:
Anthony Olivieri, CCIM, CRX Olivieri Commercial Group
Lic. 01325989 9810 Brimhall Road
661.617.1850 Bakersfield, CA 93312
anthony@oliviericommercial.com www.oliviericommercial.com
INVESTMENT OVERVIEW & HIGHLIGHTS
• Brand New Construction | Opening Date March 8, • Stable Income Growth | Starbucks’ lease
2018 incorporates fixed 10.00% Rental Increases every
Five Years and in each of the Three, 5-Year Option
• Secure Income Stream | Starbucks Corporation is an
Periods
investment grade credit, ‘A’ Rated (Standard &
Investment Overview Poor’s), with $21.32 Billion Total Revenue in 2016 • Retailers in the Immediate Area | Burger King,
and $5.88 Billion Net Worth McDonald’s, Taco Bell, Jack in the Box, Pizza Hut,
and Walmart Supercenter
• Long-Term Passive Investment Opportunity |
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Starbucks is operating under a new 10-Year • Signalized Corner | Adjacent to the corner of
Absolute-Net Lease with minimal landlord operating Highway 46 and Palm, having a daily traffic count of
responsibilities 35,000 VPD
Financial Summary
Tenant Profile
Retail Aerial Map
Site Plan
PROPOSED ELEVATIONS
Demographics
Disclaimer
Contact Information
18,400 VPD Investment Overview Aerial Image Financial Summary Tenant Profile Retail Aerial Map Site Plan Demographics Disclaimer Contact Information
STARBUCKS PRICE CAP RATE NOI
2125 Highway 46
Wasco, CA
$2,133,333 4.50% $96,000
VITAL DATA
Investment Overview
GLA LOT SIZE YEAR BUILT
1,850 SF 0.45 AC 2018
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LEASE SUMMARY RENT SCHEDULE
Financial Summary Lease Type Absolute Net YEARS PERIOD ANNUAL RENT
Original Lease Term 10 Years Years 01-05 Base Term $ 96,000
Tenant Profile Lease Commencement March 8, 2018 Years 06-10 Base Term $105,600
Lease Expiration March 31, 2028 Years 11-15 1st Option $116,160
Retail Aerial Map Lease Term Remaining 10 Years Years 16-20 2nd Option $127,776
Increases 10% Increase Every 5 Years Years 21-25 3rd Option $140,554
Site Plan Renewal Options Four, 5-Year Options Years 26-30 4th Option $154,609
CAM Tenant Reimbursement
Demographics Real Estate Taxes Tenant Reimbursement
Insurance Tenant Reimbursement
Disclaimer Repairs & Maintenance Tenant Reimbursement
Contact Information
STARBUCKS CORPORATION
STARBUCKS CORPORATION (NASDAQ: SBUX) is an distribute Starbucks branded products to The North
American global coffee company and Italian-style American Coffee Partnership with the Pepsi-Cola Company,
coffeehouse chain based in Seattle, Washington. as well as licenses its trademarks through licensed stores,
grocery, and national foodservice accounts. The company
Starbucks is the largest coffeehouse company in the world,
Investment Overview with 25,734 stores in 75 countries, including 13,244 in the
offers its products under the Starbucks, Tazo, Seattle’s Best
Coffee, Verismo brand names. Many of the company’s
United States, 2,306 in China, 1,432 in Canada, 1,184 in
products are seasonal or specific to the locality of the store.
Japan and 1,023 in the United Kingdom.
Aerial Image Starbucks-brand ice cream and coffee are also offered at
Starbucks Corporation operates as a roaster, marketer, and grocery stores.
retailer of specialty coffee worldwide. Its stores offer coffee
For the fiscal year, ending October 2, 2016, SBUX reported
and tea beverages, packaged roasted whole bean and
Financial Summary ground coffees, single serve products, and juices and
total revenues of $21.31 billion, net income of $2.82 billion
and stockholders’ equity of $5.88 billion.
bottled water. The company’s stores also provide fresh
food offerings; ready-to-drink beverages; and various food For thirteen weeks, ending January 1, 2017, the company
Tenant Profile products, including pasties and breakfast sandwiches and reported total net revenues of $5.73 billion (a 7% increase
lunch items, as well as beverage-making equipment and over the prior year) and net income of $751 million (a 9%
accessories. In addition, it licenses the right to produce and increase over the prior year).
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Demographics
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Investment Overview
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Tropicana
Supermarket
Financial Summary
SUBJECT SITE
Tenant Profile
Retail Aerial Map
Site Plan
Demographics
Disclaimer
Contact Information
Investment Overview
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Financial Summary
Tenant Profile
NAP
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WASCO, CALIFORNIA
Wasco is a city in the San Joaquin Valley, in Kern County,
California. Wasco is located 24 miles northwest of SUBJECT SITE
Bakersfield and is situated at the intersection of Highway Paso Robles
43 and 46. CA-Highway 46 is a main travel route between
Bakersfield
Investment Overview the Central Valley and the Central Coast of California. The
city’s primary economic base has always been agriculture.
Being 24 miles north of Bakersfield, the city benefits from
Aerial Image a central location within the Central Valley logistics hub.
Santa Barbara
Wasco’s population continues to grow with the area
becoming increasingly more sought-after due to the low Los Angeles
Financial Summary cost of living; the average home price is approximately
$158,000. The area is also in a prime location being
conveniently accessible from CA-Interstate 5, CA-Highway
Tenant Profile 99, and CA-Highway 56.. POPULATION 1-mile 3-mile 5-mile
2022 Population 11,413 23,761 29,193
KERN COUNTY, CALIFORNIA 2017 Population 10,643 22,122 27,517
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Located at the southern end of California’s Central Valley, 2010 Population 9,500 20,168 26,143
Kern County consistently ranks among the top-five most 2000 Population 8,296 15,564 21,971
Site Plan productive agricultural counties in the U.S. and is one of 2017 Median Age 27.9 26.6 28.5
the nation’s leading petroleum-producing counties. These
two sectors put Kern County in the top 10 of the 200 HOUSEHOLDS 1-mile 3-mile 5-mile
Demographics largest in the nation for the fastest-growing metro GDPs. 2022 Households 2,986 6,036 6,151
Kern County is ranked at the top for housing affordability
2017 Households 2,804 5,661 5,763
while still within easy reach of Los Angeles, San Francisco,
2010 households 2,535 5,231 5,312
Disclaimer the Pacific Coast, and Las Vegas. Due to its low cost of
living and accessibility to California’s major draws, there is 2000 households 2,229 4,125 4,188
an influx of retirees as well as millennials. 2017 Median size 3.80 3.91 3.89
Contact Information
DISCLAIMER
The information contained in this Marketing Brochure is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from Olivieri Commercial Group, Inc., (“OCG”) and
should not be made available to any other person or entity without the written consent of OCG. This
Investment Overview
Marketing Brochure has been prepared to provide summary, unverified information to prospective
purchasers, and to establish only a preliminary level of interest in the subject property.
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The information contained herein is not a substitute for a thorough due diligence investigation.
Olivieri Commercial Group, Inc., has not made any investigation, and makes no warranty or
Financial Summary representation, with respect to the income or expenses for the subject property, the future projected
financial performance of the property, the size and square footage of the property and improvements,
Tenant Profile the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and
Federal regulations, the physical condition of the improvements thereon, or the financial condition or
Retail Aerial Map business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the
subject property.
Site Plan The information contained in this Marketing Brochure has been obtained from sources believed
to be reliable; however, Olivieri Commercial Group, Inc., has not verified, and will not verify, any of the
information contained herein, nor has Olivieri Commercial Group, Inc., conducted any investigation
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regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or
completeness of the information provided. All potential buyers must take appropriate measures to
Disclaimer
verify all of the information set forth herein.
Contact Information
CONTACT INFORMATION
Investment Overview
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Financial Summary
Tenant Profile
Retail Aerial Map
Site Plan
Exclusively Offered By:
Demographics
Anthony Olivieri, CCIM, CRX Olivieri Commercial Group
Lic. 01325989 9810 Brimhall Road
Disclaimer 661.617.1850 Bakersfield, CA 93312
anthony@oliviericommercial.com www.oliviericommercial.com
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