Investment Highlights
- Just Extended Lease An Additional 10 Years (Tenant Has Operated For 10 Years At This Location)
- Double-Net Lease But Fully Renovated In 2006 When Starbucks Moved In
- Corporate Guarantee (S&P A- Credit Rating)
- Rental Increases Every Five Years Throughout Extended Term & Options (Next Increase 9/1/2021)
- Five - Five Year Options To Extend (If Option One Is Not Picked Up Tenant Must Pay $75,000 To Landlord)Over 67,800 Residents Within Three Miles With An Average Household Income Of $71,055
Starbucks just extended their lease an additional 10 years expiring on August 31, 2026. The lease extension calls for rental increases every five years throughout the extension term and option periods. Five - Five year lease terms are remaining after the extended term. If option one is not picked up, tenant must pay $75,000 to the landlord in addition to 180 days’ written notice.
In 2006 when Starbucks moved in they signed a 10-year lease and the property was fully renovated inside and out to fit Starbucks’ prototype. The lease is structured as double net with roof and structure responsible by landlord. Tenant is responsible for real estate taxes, landlord’s insurance and common area maintenance and HVAC.
The property is located on West Northland Ave which has over 24,100 vehicles pass by each day. In the immediate area there are national and regional retailers such as Shopko, Festival Foods, North Shore Bank, McDonald’s, Walgreens, Associated Bank, Verizon Wireless, Little Caesars, Arby’s, Cousins Subs, Kohl’s, Pet Supplies Plus and many more.
Appleton is a city in Outagamie County, Wisconsin. It is one of the Fox Cities and is situated on the Fox River, 30 miles southwest of Green Bay and 100 miles north of Milwaukee.
