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OFFERING MEMORANDUM210 St. James Ave | Goose Creek, SC 29445
2EXCLUSIVELY MARKETED BY:
© 2019 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum,’ has been obtained from sources believed to be reliable. Sands Investment
Group does not doubt its accuracy, however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the
responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine it’s accuracy and
completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no
guarantee or assurance these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group
encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction.
1017 Chuck Dawley Blvd., Suite 200
Mount Pleasant, SC 29464
844.4.SIG.NNN
www.SIGnnn.com
In Cooperation with Sands Investment Group Charleston, LLC - Lic. #20891
AMANDA REEVESLic. # 84221
843.608.9585 | DIRECT
DOUG ROLANDLic. # 73064
706.814.2217 | DIRECT
3TABLE OF CONTENTS
Actual Property Image
Area OverviewCity Overview
Demographics
Investment OverviewInvestment Summary
Investment Highlights
Property OverviewLocation Map
Aerial Map
Retail Map
Lease AbstractLease Summary
Rent Roll
Tenant OverviewTenant Profile
Starbucks | 210 St. James Ave | Goose Creek, SC 29445
4INVESTMENT SUMMARYSands Investment Group is Pleased to Exclusively Offer For Sale the 2,200 SF Starbucks Located at 210 St. James Avenuein Goose Creek, South Carolina. With a New 10 Year Lease of a High Quality Tenant, This Opportunity Provides For aSecure Investment.
Actual Property Image
OFFERING SUMMARYPRICE $1,920,000
CAP 5.00%
NOI $96,000
PRICE PER SF $872.73
YEARS REMAINING 10 Years
GUARANTOR Corporate
PROPERTY SUMMARYADDRESS 210 St. James Ave
Goose Creek, SC 29445
COUNTY Berkeley
BUILDING AREA 2,200 SF
LAND AREA .73 AC
BUILT 2018
5HIGHLIGHTS
No Early Termination Clause
Net Operating Income of $96,000 AnnuallyWith 10% Increases Every 5 Years
New Construction Building With Drive-Thruand Outdoor Patio
Nearby Tenants Include: Walmart NeighborhoodMarket, Publix, Pet Supplies Plus, Bank of America,Goodwill, BI-LO, Dunkin’ Donuts, Dairy Queen Grill &Chill, O2 Fitness, Lidl, Zaxby’s, Chick-fil-A, Lowe’s and
Walmart Supercenter
Excellent Demographics – With Average HouseholdIncomes Over $73,000 Within a 3-Mile Radius
Situated Directly on St. James Ave (Main ThoroughfareIn Goose Creek) With Over 38,700 Vehicles Per Day
New 10 Year NN Lease With MinimalLandlord Responsibilities
Located at Signalized Intersection of St. James & CentralAvenue
The Only Starbucks In the Goose Creek Market
High Barrier to Entry Market - Goose Creek is One ofthe Fastest Growing Markets In the Charleston MSAWith an Expected Growth Rate of 12.5% Over the Next5 Years
Starbucks Is the World’s #1 Specialty CoffeeRetailer With More Than 29,324 Stores in 78Markets
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Starbucks | 210 St. James Ave | Goose Creek, SC 29445
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Central Ave
St. James Ave
8
Central Ave
St. James A
ve
9
St. James Ave
10CITY OVERVIEW
Goose Creek, SC Economy Contemporary LifeThe Charleston-North Charleston metro area — whichincludes Charleston, Berkeley and Dorchester counties —grew its economy at a 15.2 percent clip between 2011 and2017, the data show. The Charleston region ranked as one of
the top ten places in the U.S. for job seekers last winter. Thesurvey, by employment services firm ManpowerGroup,ranked each region by the net percentage of employers ineach city that plan to hire. With companies like Boeing,Benefitfocus, Daimler, and Snag-a-Job adding thousands of
new jobs to the region, it’s no surprise Charleston made thelist. The city has two shipping terminals, owned and operatedby the South Carolina Ports Authority, which are part of thefourth-largest container seaport on the East Coast and thethirteenth largest container seaport in North America.
Known for its rich history, well-preserved architecture,distinguished restaurants and mannerly people, Charleston isa popular tourist destination and has received a large numberof accolades, including "America's Most Friendly City" by
Travel + Leisure in 2011 through 2013 and 2014 by CondéNast Traveler, and also "the most polite and hospitable city inAmerica" by Southern Living magazine. In 2018, for the fourthconsecutive year, Charleston was voted “#1 City in theWorld” by Travel + Leisure. Charleston is a major tourist
destination, with a considerable number of luxury hotels, hotelchains, inns, and bed and breakfasts, and a large number ofrestaurants serving Lowcountry cuisine and quality shopping.Charleston is also an important art destination, named a top-25 arts destination by AmericanStyle magazine.
CHARLESTON PORT DOWNTOWN CHARLESTONOAKS PLANTATION IN GOOSE CREEK
Goose Creek is a city in Berkeley County in South Carolina.Goose Creek is included in the Charleston-North Charleston-Summerville metro area. The population of the Charlestonmetropolitan area, comprising Berkeley, Charleston, and
Dorchester Counties, was counted by the 2018 estimate at713,000 – the 76th largest metropolitan statistical area in theUnited States. South Carolina is now the second most populardestination for movers in the United States, according toUnited Van Lines’ Annual Movers Study. One economist
predicts this may be part of a larger trend of people seekinglocations where “housing costs are relatively lower, climatesare more temperate and job growth has been at or abovenational average.” With 90 miles of coastline, the Charlestonmetro certainly fits the bill, averaging 43 newcomers a day.
Goose Creek | Berkeley County | South Carolina
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Population
Average Household Income
59,446 121,378 329,672
$73,835 $68,933 $68,949
DEMOGRAPHICS
3-MILE 5-MILE 10-MILE
3-MILE 5-MILE 10-MILE
Starbucks | 210 St. James Ave | Goose Creek, SC 29445
Goose Creek High School
Goose Creek Elementary School
Westview Middle School
Stratford High School
(38,700 VPD)
(63,656 VPD)
(102,600 VPD)
St. James A
ve Westview Elementary
School
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COMPANY TYPENASDAQ: SBUX
# OF LOCATIONS29,324+
FOUNDED1971
HEADQUARTERSSeattle, WA
TENANT PROFILE
WEBSITEstarbucks.com
Starbucks locations serve hot and cold drinks, whole-bean coffee, micro-ground instant coffee known as VIA, espresso, café latte, fulland loose-leaf teas including Teavana tea products, Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacksincluding items such as chips and crackers; some offerings are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers; select "Starbucks Evenings" locationsoffer beer, wine and appetizers. Starbucks-brand coffee, ice cream and bottled cold coffee drinks are also sold at grocery stores.
Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded inSeattle, Washington in 1971. Today it operates more than 29,324 retail stores in 78 markets, and thecompany is planning to open 2,100 new locations in 2019. Starbucks is considered the main representativeof "second wave coffee," initially distinguishing itself from other coffee-serving venues in the U.S by taste,quality, and customer experience, while popularizing darkly roasted coffee. Since the 2000’s, third wavecoffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts,while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons.
13LEASE SUMMARY
Actual Property Image
TENANT Starbucks
PREMISES A Building of Approximately 2,200 SF
LEASE COMMENCEMENT November 2, 2018
LEASE EXPIRATION February 28, 2029
LEASE TERM 10 Years Remaining
RENEWAL OPTIONS 6 x 5 Years
RENT INCREASES 10% Every 5 YearsAnnually on March 1st
LEASE TYPE Double Net (NN)
PERMITTED USE Coffee
PROPERTY TAXES Tenant’s Responsibility
INSURANCE Tenant’s Responsibility
COMMON AREA Tenant ReimbursesPlus 15% Management Fee
ROOF & STRUCTURE Landlord’s Responsibility
REPAIRS & MAINTENANCE Tenant’s Responsibility
HVAC Tenant’s Responsibility
UTILITIES Tenant’s Responsibility
RIGHT OF FIRST REFUSAL No
14RENT ROLL
Actual Property Images
SIZE ANNUAL RENT LEASE TERM
TENANT NAME
SQUAREFOOTAGE
ANNUALBASE RENT
RENT PER SF
RENTAL INCREASE
INCREASE DATES
LEASEBEGIN
LEASE END
OPTIONS
Starbucks 2,200 SF $96,000 $43.64 10%Every 5 Years
Annually on March 1st11/02/2018 02/28/2029 6 x 5 Years
Starbucks | 210 St. James Ave | Goose Creek, SC 29445
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The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only bythe party receiving it from Sands Investment Group and should not be made available to any other person or entity without the writtenconsent of Sands Investment Group.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only apreliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty or representation, withrespect to the income or expenses for the subject property, the future projected financial performance of the property, the size and squarefootage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance withState and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of anytenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, SandsInvestment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group conductedany investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness ofthe information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it inthe strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree thatby accepting this Memorandum you agree to release Sands Investment Group and hold it harmless from any kind of claim, cost, expense, orliability arising out of your investigation and/or purchase of this property.
CONFIDENTIALITY AGREEMENT
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EXCLUSIVELY MARKETED BY:
Actual Property Image
1017 Chuck Dawley Blvd., Suite 200Mount Pleasant, SC 29464
844.4.SIG.NNN
www.SIGnnn.com
Starbucks | 210 St. James Ave | Goose Creek, SC 29445
In Cooperation with Sands Investment Group Charleston, LLC – Lic. #20891
AMANDA REEVESLic. # 84221
843.608.9585 | [email protected]
DOUG ROLANDLic. # 73064
706.814.2217 | [email protected]
