October 1, 2021 – Rob DiFranco of Horvath & Tremblay has successfully completed the sale of Starbucks in Spartanburg, South Carolina. Horvath & Tremblay exclusively represented the buyer in this transaction at a sale price of $2,378,640.
Starbucks is located at 2220 Chesnee Highway in Spartanburg, South Carolina. This is a new construction stand-alone building, which contains 2,500 square feet of leasable space, a drive-thru, and outdoor patio space on a 0.99-acre lot. Starbucks currently has 10 years remaining on their initial 10-year term with four, 5-year renewal options. The lease features a 10% rental increase in the fifth year and at the start of each option period. Starbucks enjoys outstanding visibility, frontage, and access along Chesnee Highway (US Highway 221), the primary commercial corridor traversing the area. The property is surrounded by national retailers and several hotels/motels and is just seconds from Interstate 85.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.