November 13, 2024 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of a Starbucks in Greenwood, South Carolina. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,368,000.
Starbucks is located 109 E Alexander Avenue in Greenwood, South Carolina. Constructed in 2023, Starbucks initially signed a 10-year lease with six (6), five-year renewal options. Less than a year from commencement they elected to execute their first, five-year renewal option. The lease now runs through April 2038, leaving 13+ years of term remaining followed by five (5), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option. Starbucks is situated at the signalized intersection of Alexander Avenue with Main Street S, one of the primary retail and traffic corners through Greenwood. The Property benefits from excellent visibility and prominent signage, and features Starbucks’ best-in-class double drive-thru in addition to an outdoor patio space. Starbucks is a quarter mile from Self Regional Medical Center, a 358-bed short term acute care hospital, and less than 2 miles from Lander University, a public university that enrolls over 4,000 students. Greenwood is also home to the Greenwood Mall, which is part of a major retail center anchored by the mall, Publix, Walmart Supercenter, and Lowe’s.
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.