December 10, 2024 – Brian Ahrens of Horvath & Tremblay has successfully completed the sale of a Starbucks in Danville, Virginia. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,019,000.
Starbucks is located at 1011 Piney Forest Road in Danville, Virginia. Constructed in 2022, Starbucks has 13+ years remaining on their lease with six (6), five-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 along Piney Forest Road (US Route 29 Business), the area’s primary commercial corridor. 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 close to the area’s national and local retailers which drive traffic to the area and is surrounded by densely populated residential neighborhoods that provide a built-in customer base. Starbucks is 3.5-miles from Downtown Danville and enjoys convenient access to US Highways 29 and 58. Danville is in south central Virginia approximately 70 miles southeast of Richmond and 45 miles north of Greensboro, North Carolina.
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.