March 22, 2023 – Rob DiFranco of Horvath & Tremblay has successfully completed the sale of Starbucks in Hope Mills, North Carolina. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,316,000.
Starbucks is located at 2941 Town Center Drive in Hope Mills, North Carolina. Starbucks has more than 9 years remaining on their double net lease with six (6), 5-year renewal options. The lease features a 10% rent increase in year 6 of the primary lease term and at the start of each renewal option. This is a new construction, build-to-suit Starbucks and features Starbucks’ latest architectural design, best-in-class drive-thru experience, and outdoor patio space, all designed to enhance the customer experience and drive sales. Starbucks is an outparcel to a Harris Teeter shopping center (Traemoor Village), and sits directly in front of a new multifamily project (288 units) and across the street from the local high school and elementary school (3,000+ Students). The housing growth and schools in the area provide a built-in customer base for this Starbucks retail location. The property is located in a high-growth and affluent community which is part of the Fayetteville, NC metropolitan area, and the surrounding retailers (McDonald’s, CVS, Harris Teeter, Food Lion, Pep Boys) prove the demand and need for national tenants like Starbucks in the area.
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.