SNL Facilitates Sale of Starbucks to Local 1031 Buyer
Matt Scow Represented Seller on Sale of Prime Colorado Real Estate
August 20, 2024 – Secure Net Lease, a top ranking brokerage firm, facilitated the sale of a Starbucks in Greeley, Colorado’s fastest growing city. The property sold at a favorable cap rate for the seller to a local Colorado buyer.
The agent who orchestrated the deal, Matthew Scow, said “We took over this Starbucks from another broker while it was still on the market. We ultimately found a local Colorado buyer who represented themselves.”
The 2,074 square-foot coffee shop sits on 0.95 acres right across the street from Banner Health North Colorado Medical Center, the largest hospital in Northern Colorado. The facility has 378 beds, over 3,000 healthcare professionals, and sees nearly 2,000 patients every day. It is also less than 1 mile from The University of Northern Colorado, home to over 9,000 students, and 3 miles from Greeley-Weld County Airport. The property’s prime location and tenant make this a very attractive investment.
“This was a unique buyer situation as they were in an exchange after selling some mineral rights, which made this Starbucks a perfect fit with this price point. Ultimately, it was a win-win, and the transaction completed successfully.” the agent concluded.
The sale of this Starbucks property in Greeley reflects Secure Net Lease’s expertise in finding tailored solutions for both buyers and sellers. With a prime location near major healthcare, educational, and transportation hubs, this property offers solid investment potential in one of Colorado’s fastest-growing cities. By matching the right buyer with the seller’s goals, Secure Net Lease demonstrated its ability to deliver favorable outcomes for all parties involved.
Starbucks Corporation is the premier and largest purveyor of coffee in the world. They are an investment grade tenant, being rated BBB+ by S&P and having reported $29.46 billion in revenue for 2023. The multi-national chain has 35,711 locations in 80 countries worldwide with 16,255 locations in the United States. They saw strong revenue growth of 11% during 2022 when comparing 2021 largely attributed to 36% revenue growth from their licensed stores.
About Secure Net Lease
Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.
This was a unique buyer situation as they were in an exchange after selling some mineral rights, which made this Starbucks a perfect fit with this price point.
