Secure Net Lease Sells San Antonio MSA Starbucks
SNL’s Anthony Pucciarello Facilitates Transaction with Texas 1031 Exchange Buyer
Secure Net Lease, a top ranking brokerage firm, facilitated the sale of a Starbucks in Hondo, Texas, right outside of San Antonio. The property was sold in an all-cash deal to a local 1031 exchange buyer.
The agent who orchestrated the deal, Anthony Pucciarello, said “We recently sold both this Starbucks and an Advance Auto Parts location in Hondo to the same 1031 exchange buyer. The transaction was incredibly smooth, as the buyer, a motivated investor, closed the deal within about 14 days of signing the contract.”
The 2,225 square-foot building is strategically located on the I-90 & I-173 Interchange, which sees over 25,000 vehicles per day. This property is located between several other high-traffic stores: McDonalds (260,638 yearly store visits), Golden Chick (96,680 yearly store visits), and Taco Bell (48,753 yearly store visits). It is also near Walmart (485,505 yearly store visits) and HEB (419,503 yearly store visits). It is also located near South Texas Regional Airport (68 flights/day) and Hondo High School (576 students).
“The buyer was a local exchange buyer from Round Rock who had just sold his family ranch nearby, so he was already familiar with and fond of the area. Our seller had the opportunity to meet him in person at the property, which further strengthened the relationship. Now, the buyer has expressed interest in purchasing additional properties from us in the future” the agent concluded.
The property’s prime location, surrounded by high-traffic businesses and close to key landmarks, made this an attractive investment. The buyer, familiar with the area, completed the deal swiftly within 14 days. This transaction has fostered a strong relationship between the buyer and Secure Net Lease, with potential for future collaborations on additional property sales.
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.
Now, the buyer has expressed interest in purchasing additional properties from us in the future.
