October 7, 2022 – Justin Spillane and Zach Noble of Horvath & Tremblay have successfully completed the sale of Starbucks in Stockton, California. Horvath & Tremblay exclusively represented the buyer in this transaction at a sale price of $3,400,000.
Starbucks is located at 721 Carolyn Weston Boulevard in Stockton, California. This is a new construction stand-alone building, which contains 2,200 square feet of leasable space, a drive-thru, and outdoor patio space on a 0.63-acre lot. Starbucks executed a 10-year lease with four (4), 5-year renewal options. The lease features attractive 10% rent increases every 5-years throughout the primary term and at the start of each renewal option. The new construction Starbucks is well-located along Carolyn Weston Boulevard in a new mixed-use development that will feature 7-Eleven, other national retailers and a 120-unit townhome community. The new construction residences will compliment the already densely populated Weston Ranch community creating a captive customer base for Starbucks. Additionally, the Property is adjacent to a Food-4-Less anchored shopping center further driving traffic to the area. The location is also just 0.25-miles from Interstate 5 which has average daily traffic counts in excess of 118,000 vehicles per day.
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.