Starbucks - Norwalk, IA
SHOP Companies is pleased to offer for sale to qualified investors the opportunity to purchase a newly constructed, 15-year net leased Starbucks located in Norwalk, Iowa ("the property"). The property consists of a 2,225 SF building on a spacious 1.26-acre parcel. This rare, 15-year Starbucks lease includes six (6), five-year renewal options and 7% rental escalations every five years during the primary term.
The subject property sits on a prime hard corner directly in front of Norwalk Central, a new $300+ million, 70-acre public/private development designed as Norwalk's new "town center." The Norwalk Central project is set to greatly enhance the community with two national-brand hotels, quality dining and retail, and most notably, the state-of-the-art Gregg Young Auto Sports Campus. The 20+ acre indoor-outdoor Sports Campus is designed to consolidate the area's year-round, daily sports practice and training needs as well as attract dozens of regional and national youth sporting events on an annual basis. The campus will include indoor courts for multiple sports, classrooms and training facilities, administrative offices, and outdoor turf fields.