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Equity Retail Brokers Sells Starbucks in New Jersey

Equity Retail Brokers Sells Starbucks in New Jersey

Plymouth Meeting, PA, November 1, 2019 – Members of the Investment Sales Team at Equity Retail Brokers recently closed a Starbucks in Delran, Burlington County, New Jersey. Equity’s Ken Yanni and Ed Ginn were on the team that represented the seller in the transaction.

On the net lease market, Starbucks typically generate strong investor interest. The strong credit rating (S&P: BBB+), locations with high retail integrity, and brand awareness of Starbucks give investors a sense of comfort with the concept.

The subject property is located in the Philadelphia MSA and is surrounded by both local and national retail tenants such as Lowe’s, ShopRite, Chick-fil-A, Planet Fitness, Walgreens, Wells Fargo, AT&T, For Eyes, Saladworks, and many more.

“Due to the rare ground lease structure of this deal, our team was able to attract interest from multiple buyers. Single tenant net lease deals with good real estate fundamentals, low rents, and Amazon-proof tenants are in high demand with the 1031 exchange market and non-exchange buyers due to the low interest rate environment”, Equity Agent, Ken Yanni.

For the past 25 years, Equity Retail Brokers has been set aside from any brokerage, by having laser focus in providing our clients with the highest price for their asset as the lowest transaction cost. While we strive to meet a client’s financial goals, we also pride ourselves on client-broker relationships that extend past the closing table.

If you would like more information about this transaction or our investment sales services, please contact Ed Ginn, 484.417.2201, eginn@equityretailbrokers.com, or Ken Yanni at 484.417.2223, kyanni@equityretailbrokers.com.

 

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November 1, 2019