Starbucks | Verizon

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Starbucks | Verizon

670 Glynn Isles
Brunswick, GA

Price: $4,340,000

Cap: 6.15%

NOI: $266,722

Building Size: 6,550

Lot Size: .99 AC

Investment Highlights

CORPORATE STARBUCKS & VERIZON

• The subject property is a 6,550 square foot 2-tenant retail offering located in Brunswick, GA

• The center is leased to Starbucks & Verizon, original tenants who each recently extended their leases

• Brunswick is a premier market of Coastal Georgia and the Gateway to the Golden Isles

• Located in the premier retail corridor of Brunswick

MAJOR RETAIL CORRIDOR

• Located at the intersection of Golden Isles Parkway (32,100 VPD) and Altama Ave (20,400 VPD)

• This property is positioned as the outparcel to a major power center that features Target, Lowe’s Home improvement, Ross, Ulta, and others

VERIZON

• Verizon is a publicly traded (NYSE:VZ) Fortune 500 company with an S&P investment grade credit rating of BBB+ and operates more than 6,500 locations throughout the United States.

• Verizon has been in business for over 38 Years and has a net worth of over $220 Billion.

• Verizon (73% of GLA) has been operating in this location since the property was built in 2007

• This lease is corporately guaranteed by Verizon Wireless of the East LP and Verizon Wireless Personal Communications LP

• The tenant recently extended its lease for 5-Years in 2021, reaffirming its long-term commitment to the location

STARBUCKS

• Starbucks has a S&P Investment Grade Credit Rating of “BBB+” and is Ranked #120 on the Fortune 500 List.

• Starbucks is the world’s premier coffee company with over 35,711 locations and $32.3 billion in annual revenue and is ranked #1 in the Food Services Industry by Fortune in 2023.

• Starbucks (27% of GLA) has been operating in this location since the property was built in 2007

• This lease is corporately guaranteed by Starbucks Corporation

ATTRACTIVE COASTAL GA | GATEWAY TO THE GOLDEN ISLES

• Brunswick is located on a harbor of the Atlantic Ocean approximately 70 miles North of Jacksonville, FL and 70 miles south of Savannah, GA.

• Brunswick is the second-largest urban area on the Georgia coast after Savannah and is the County seat of Glynn County.

• Located on the southeastern shore of the Atlantic Ocean, the Golden Isles is comprised of the city of Brunswick, Jekyll, St. Simons, Little St. Simon, and Sea Island.

• The area’s beaches, resorts, shops, and historic sites attract visitors from around the world. The Golden Isles support over 2.5 million tourists annually who contribute over $1.1 Billion to the economy per year.

• The Port of Brunswick is one of the nation’s most productive ports on the Atlantic Coast and is the sixth busiest automobile port in the country, employing over 11,000 people in the area.

• Brunswick is home to Gulfstream Aerospace, one of the world’s most recognized aircraft manufacturers.

• The area is also home to one of the most impressive medical hubs in the region, a well-established manufacturing base and a new four-year college.

Zach Taylor

678-808-2780 | EMAIL >

Eric Abbott

678-808-2746 | EMAIL >

OFFERING MEMORANDUM

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