MESA, AZ – ORION Investment Real Estate is proud to announce the sale of the NNN Investment property leased to Starbucks for $2.32 million ($1,194 PSF). This 1,943 square foot freestanding building is situated on the hard corner of Country Club Drive (SR 87) and Juanita Avenue, visible to ±51,000 cars per day. Brand new construction, the building is leased to Starbucks on a corporate guarantee. Starbucks Corporation is an American coffee company and coffeehouse chain who first opened its doors in 1971. Today, Starbucks has more than 22,000 retail stores in 67 countries.
The property is located just off of Arizona State Route 87, commonly known as the Beeline Highway from Payson through Fountain Hills to McDowell Road, just north of Mesa. Once it gets to Mesa, SR 87 is known as Country Club Drive, a major-arterial street, six lanes wide in most sections. Major attractions and retailers are close by, including Fiesta Mall, Golfland Sunsplash, Fiesta Lakes Golf Course, Kokopelli Golf Club, and Mesa Community College.
Nick Miner, CCIM, Senior Vice President at ORION Investment Real Estate, noted, “This is the last property I assisted my client with in buying as a part of his 1031 Exchange. The property was identified because of the location in Mesa and the 10-year lease that was corporately guaranteed by a well-known, national Tenant.”
The property was sold by Native Arizonan Acquisitions VI, LLC and purchased by JKB Properties, LLC, a client of Miner’s.