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| Starbucks |
14041 Coursey Blvd., Baton Rouge, Louisiana
Purchase Price: $1,423,000
• Ten (10) Year Primary Lease Term
• NN (Double Net Lease)
• Fixed 10% rent increases paid every five years
• Four (4) x 5-year options
Land Area: ± 0.82 acres, Building Area: ± 1,750 SF
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Willis Ventures is excited to announce that our brokerage has closed escrow on a Starbucks in Baton Rouge, Louisiana. The property sold for $1,423,000 with a 6.15% capitalization rate.
Starbucks is the world’s #1 speciality coff ee retailer. Starbucks operates and licenses over 8,500 coff ee shops in more than 30 countries. Th e shops off er coff ee drinks and food items as well as coff ee beans, coff ee accessories, teas and music CDs. Starbucks operates more than 5, 200 of its shops in fi ve countries (mostly in the U.S.), while licensees operate more than 2,800 units (primarily in shopping centers and airports). Th e company also owns and franchises the Seattle’s Best Coff ee and Torrefazione Italia chains in the U.S. (more than 100 shops). In addition, Starbucks markets its coff ee through grocery stores and licenses its brand for other food and beverage products.
The subject property is located on Coursey Blvd. between S. Sherwood Forest Blvd. and Jones Creek Road which is approximately 3.7 miles off Interstate 12 in Baton Rouge, Louisiana. The property is a freestanding drive-through location anchored by a Wal-Mart Neighborhood Market in Coursey Plaza and
also includes an additional billboard and ground lease. National retailers in the area include Home Depot, Albertson’s, McDonald’s, Taco Bell, Burger King, Subway Sandwiches, Popeyes Famous Fried Chicken, and Circle K & Shell gas stations. Traffic counts on Coursey Blvd. total 30,278 a day.
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