FAQ on SRS Real Estate Partners' Sale of 3 Starbucks Properties in California
Summary
SRS Real Estate Partners has successfully sold three Starbucks properties in California for a total of $10 million, highlighting the strong demand for Starbucks-leased properties among investors due to their corporate credit, long-term leases, and prime locations.
What properties did SRS Real Estate Partners sell?
SRS Real Estate Partners sold three Starbucks properties in California, including two in Southern California/Inland Empire and one in Northern California, all featuring drive-thrus and long-term, corporate-guaranteed triple-net leases.
How much were the properties sold for?
The properties were sold for a total of $10 million, with individual sales prices of $3.7 million, $3.6 million, and $2.67 million for each property respectively.
Why are Starbucks properties attractive to investors?
Starbucks properties are attractive due to their strong corporate credit, long-term leases, and high-traffic locations that drive consistent sales, making them a favorable investment for single-tenant net lease investors.
Who represented the buyers and sellers in these transactions?
Alexander Moore, Pat Kent, and Parker Walter from SRS Capital Markets represented the buyers and sellers in these transactions, which included private investors and developers.
What is the significance of the cap rates mentioned?
The cap rates of 5% and 5.25% indicate the properties’ investment return rates at the time of sale, reflecting their value and attractiveness to investors.
How does this sale reflect on SRS Real Estate Partners’ performance?
This sale underscores SRS Real Estate Partners’ strong performance in the Starbucks property market, having transacted 39 Starbucks-occupied properties worth over $126 million in the past 12 months.
Where can I find more information about SRS Real Estate Partners?
For more information about SRS Real Estate Partners, visit their website at srsre.com.
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