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  • O F F E R I N G

    M E M O R A N D U M

    S T A R B U C K S

    1 5 3 2 7 P A L M D A L E R O A D , V I C T O R V I L L E , C A L I F O R N I A 9 2 3 9 2

    M A R C U S & M I L L I C H A P A c t i v i t y # Z 0 3 8 0 4 9 6

    Patrick K Conway

    West LA

    (310) 909-2386

  • I N V E S T M E N T S U M M A R Y

    Starbucks is currently operating under a twenty year absolute triple net

    ground lease. The asset benefits from its location on Palmdale Road,

    which sees daily traffic counts exceeding 28,000 vehicles per day.

    Surrounding retailers in the immediate area include Taco Bell, Holiday

    Inn, Enterprise Rent-A-Car, Hyundai, Ford and numerous restaurants

    and banks.

    Victorville is located at the southwestern edge of the Mojave Desert, 81

    miles northeast of Los Angeles, 34 miles south of Barstow, 48 miles east

    of Palmdale, and 37 miles north of San Bernardino through the Cajon

    Pass on Interstate 15. Victorville is the location of offices of the "Mojave

    Desert Branch" of the San Bernardino County government. Victorville is

    the home of the Southern California Logistics Airport (SCLA). The SCLA is

    a 2,500-acre world class aviation and air cargo facility serving

    international and domestic needs. The airport can accommodate all

    current flying commercial and military aircraft with a 24-hour per day

    tower operation and emergency response capabilities comparable to

    the world's largest airports. The SCLA employs over 2,000 employees.

    I N V E S T M E N T H I G H L I G H T S

    • Absolute NNN Lease

    • Corporate Guarantee

    • Over 100,000 People Within a Three Mile Radius

    • Close to the Interstate 15, which sees 89,000 Vehicles Per Day

    • 10% Increases Every 5 Years and in Option Periods

    I N V E S T M E N T O V E R V I E W

    O F F E R I N G S U M M A R Y

    P R I C E $2,475,000

    N O I $108,900

    C A P R A T E 4.4 %

    P R I C E / S F $1,289.06

    R E N T / S F $56.72

    L E A S E T Y P E NNN

    G R O S S L E A S A B L E A R E A

    ( G L A )

    1,920 SF

    Y E A R B U I L T 2007

    L O T S I Z E 0.26 ACRES

    O F F E R I N G M E M O R A N D U M | S T A R B U C K S | 1 5 3 2 7 P A L M D A L E R O A D , V I C T O R V I L L E , C A 9 2 3 9 2

  • 3

    O F F E R I N G M E M O R A N D U M | S T A R B U C K S | 1 5 3 2 7 P A L M D A L E R O A D , V I C T O R V I L L E , C A 9 2 3 9 2

  • L E A S E S U M M A R Y

    Property Subtype Net-Leased Restaurant

    Tenant Starbucks

    Rent Increases 10% Every Five Years

    Guarantor Corporate Guarantee

    Lease Type NNN

    Lease Commencement 9/1/2007

    Lease Expiration 8/31/2027

    Lease Term 20 Years

    Term Remaining on Lease 9 Years

    Renewal Options Three Ten-Year Options

    Landlord Responsibility CAM (Gets reimbursed by

    tenant)

    Tenant Responsibility Insurance, Property Taxes,

    Maintenance

    Right of First Refusal/Offer Yes

    L E A S E S U M M A R Y

    P R O P E R T Y S U M M A R Y

    Property Starbucks

    Address 15327 Palmdale Rd., Victorville, CA 92392

    Price $2,475,000

    Net Operating Income $108.900

    CAP Rate 4.4%

    Year Built 2007

    Gross Leasable Area 1,920 SF

    Zoning N/A

    Type of Ownership Ground Lease

    Lot Size 0.26 Acres

    O F F E R I N G M E M O R A N D U M | S T A R B U C K S | 1 5 3 2 7 P A L M D A L E R O A D , V I C T O R V I L L E , C A 9 2 3 9 2

  • T E N A N T P R O F I L E

    Tenant Starbucks

    Lease Guarantor Corporate

    Ownership Public

    Years in Business 43 Years

    Credit Rating A

    Number of Locations 23,187 Worldwide

    Headquarters Seattle, WA

    Website www.starbucks.com

    T E N A N T O V E R V I E W

    Starbucks Corporation operates as a roaster, marketer and

    retailer of specialty coffee worldwide. The company operates in

    four segments: Americas; Europe, Middle East and Africa; China/

    Asia Pacific; and Channel Development. The company’s stores

    offer coffee and tea beverages, packaged roasted whole bean

    and ground coffees, single serve products, and juices and

    bottled water. Its stores also provide fresh food offerings; ready-

    to-drink beverages; and various food products, such as pastries,

    breakfast sandwiches and lunch items, as well as beverage-

    making equipment and accessories. In addition, it licenses the

    rights to produce and distribute Starbucks branded products to

    The North American Coffee Partnership with the Pepsi-Cola

    Company, as well as licenses it trademarks through licensed

    stores and grocery and national foodservice accounts. The

    company offers its products under the Starbucks, Teavana, Tazo,

    Seattle’s Best Coffee, Evolution Fresh, La Boulange, Ethos,

    Starbucks VIA, Frappuccino, Starbucks Doubleshot, Starbucks

    Refreshers, and Starbucks Discoveries Iced Café Favorites brand

    names.

    Starbucks Corporation is an American coffee company and

    coffeehouse chain. Starbucks was founded in Seattle,

    Washington in 1971. As of 2018, the company operates 28,218

    locations worldwide. Starbucks is considered the main

    representative of "second wave coffee", initially distinguishing

    itself from other coffee-serving venues in the US by taste, quality,

    and customer experience while popularizing darkly roasted

    coffee. Since the 2000s, third wave coffee 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.

    T E N A N T P R O F I L E

    O F F E R I N G M E M O R A N D U M | S T A R B U C K S | 1 5 3 2 7 P A L M D A L E R O A D , V I C T O R V I L L E , C A 9 2 3 9 2

  • L O C A T I O N A E R I A L

    O F F E R I N G M E M O R A N D U M | S T A R B U C K S | 1 5 3 2 7 P A L M D A L E R O A D , V I C T O R V I L L E , C A 9 2 3 9 2

  • 7

    O F F E R I N G M E M O R A N D U M | S T A R B U C K S | 1 5 3 2 7 P A L M D A L E R O A D , V I C T O R V I L L E , C A 9 2 3 9 2

    A R E A O V E R V I E W

    V I C T O R V I L L E , C A L I F O R N I A

    Victorville is located at the southwestern edge of the Mojave Desert, 1 miles northeast of Los Angeles, 34 miles south of Barstow, 48 miles east of Palmdale and 37 miles north of San Bernardino through the Cajon Pass on Interstate 15. Victorville is the location of offices of the “Mojave Desert Branch” of the San Bernardino County government. Victorville is bordered by Apple Valley on the east, Hesperia on the south, and Adelanto on the west. The Mojave River flows sporadically through Victorville. The elevation at City Hall is approximately 2,950 feet above sea level.

    Victor Valley College is a community college in the southeast corner of Victorville, CA. The Victor Valley Community College district includes Victorville, Hesperia, Apple Valley, Phelan, and Adelanto. The campus has approximately 12,000 students enrolled and offers nearly 40 major courses of study. According to the United States Census Bureau, the city has a total area of 73.7 square miles- 73.2 square miles of land and 0.6 square miles of water. The total area is 0.76% of water.

    Southern California Logistics Airport (SCLA), also known as the Victorville Airport is located in the city of Victorville in San Bernardino County, California, approximately 20 miles north of San Bernardino. The SCLA is a 2,500-acre world- class aviation and air cargo facility serving international and domestic needs. The airport can accommodate all current-flying commercial and military aircraft with a 24-hour per day tower operation and emergency response capabilities comparable to the world’s largest airports. The airport is also home of the Southern California Aviation, large transitional facility for commercial aircraft.

    U.S. Route 66 (US 66 or Route 66), also known as the Will Rogers Highway and colloquially known as Main Street of America or the Mother Road, was one of the original highways within the U.S. Highway System. Route 66 was established on November 11, 1926, with road signs erected the following year. The highway, which became one of the most famous roads in America, originally ran from Chicago, Illinois through Missouri, Kansas, Oklahoma, Texas, New Mexico, and Arizona before ending at Santa Monica, California, covering a total of 2,448 miles.

  • A R E A D E M O G R A P H I C S

    O F F E R I N G M E M O R A N D U M | S T A R B U C K S | 1 5 3 2 7 P A L M D A L E R O A D , V I C T O R V I L L E , C A 9 2 3 9 2

    1 Miles 3 Miles 5 Miles

    POPULATION

    2022 Projection 10,112 102,865 201,731

    2017 Estimate 8,863 90,683 177,930

    2010 Census 8,318 85,746 166,409

    2000 Census 5,873 55,069 98,435

    INCOME

    Average $47,442 $54,472 $61,881

    Median $33,872 $42,807 $49,770

    Per Capita $17,041 $16,339 $18,033

    HOUSEHOLDS

    2022 Projection 3,630 30,963 59,159

    2017 Estimate 3,161 27,043 51,638

    2010 Census 2,967 25,642 48,060

    2000 Census 2,324 18,151 32,175

    HOUSING

    2017 $111,096 $138,284 $160,474

    EMPLOYMENT 2017 Daytime

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