September 16, 2022 – Jason Woods, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Starbucks in Jacksonville, Florida. Horvath & Tremblay exclusively represented the buyer in this transaction at a sale price of $3,650,000.
Starbucks is located at 13776 Old St. Augustine Road in Jacksonville, Florida. This is a new construction stand-alone building, which contains 3,771 square feet of leasable space, a drive-thru, and outdoor patio space. Starbucks executed a 10-year lease with six (6), 5-year renewal options. The lease features attractive 10% rent increase every five years throughout the primary term and at the start of each renewal option. Starbucks is well-located along Old St. Augustine Road and is just seconds from Interstate 95 and the Baptist Medical Center South. The Property sits in the center of a densely developed commercial corridor and is an outparcel to the Shoppes at Bartram Park, a Publix and Kohl’s anchored shopping center. The Property is surrounded by national retailers that drive traffic to the area and several hotels that provide a built-in customer base.
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.