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Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to offer qualified investors the opportunity to acquire a condominium interest in a brand new Starbucks (the "Property") located in the suburban Philadelphia regional market of Fort Washington, PA. Starbucks is opened its store in September 2021, in their new store prototype, which will feature a drive-thru lane and outdoor seating area. The investment grade tenant (BBB+; S&P) will be operating on a 10-year lease with rental increases throughout the primary term and option periods.
Starbucks is conveniently situated within proximity to major demand drivers in the area including the Fort Washington Office Park, Temple Health, Toll Brothers corporate headquarters, and others which contribute to a daytime population north of 223,000 people within a 5-mile radius. Further, this Starbucks location is 4 miles away (10 minutes) from the next closest Starbucks with a drive-thru, which will naturally drive traffic from the 173,000+ vehicles that pass the premises each day via Interstate 276, Route 309 and Pennsylvania Avenue.
Brand New Store Prototype Built for the Future
- The investment grade (BBB+; S&P) tenant, which is celebrating its 50th anniversary, continues to establish itself in every market of the world in preparation for the inevitable “post-coronavirus world.” Starbucks is in the middle of rapid growth and implementation of more customer-friendly operations that will continue to boost sales and limit unnecessary person-to-person contact. The subject property will feature a drive-thru and outdoor seating area; both of which were key business drivers identified by Starbucks in its site selection process due to their ability to handle a larger population base and immediate traffic flow from the neighboring Holiday Inn.
Ideal Regional Market Location
- Conveniently Situated Within Proximity to Philadelphia and King of Prussia
Immediate Connectivity to Greater Philadelphia
- Starbucks is steps away from Fort Washington train station (SEPTA)
Tremendous Surrounding Daytime Population
- Highlighted by Employers such as Toll Brothers, Life Time Fitness & Audi
- The Fort Washington Office Park serves as Upper Dublin Township’s center of commerce and is a vital economic engine that benefits the school district, township and region.