Description

Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell Inc., is pleased to present the opportunity to acquire the fee simple interest in a drive-thru Starbucks located along one of the top-performing retail corridors in Greensboro within the rapidly expanding Piedmont Triad metropolitan area. The property is secured by a corporate net lease from Starbucks Corporation (S&P: BBB+), one of the world’s most recognized consumer brands and the largest coffeehouse chain globally. Starbucks has successfully operated at this high-traffic drive-thru location since 2005 and has already exercised two five-year renewal options following the completion of its original 10-year lease term. The lease includes three remaining five-year extension options with built-in rental escalations of 8% during the first option period and 10% increases in both the second and third option periods, providing investors with stable, long-term income growth backed by investment-grade corporate tenancy. The freestanding building features a strong parking ratio of approximately 12 spaces per 1,000 square feet and occupies a highly visible position within a dominant retail corridor near the Interstate 840 interchange, which carries approximately 43,000 vehicles per day. The surrounding area is anchored by Village at North Elm, a highly successful mixed-use lifestyle center ranked among the top 18% of neighborhood shopping centers in North Carolina and attracting approximately 2.4 million annual visitors according to Placer.ai. The corridor also features a strong lineup of national retailers and restaurants including McDonald's, Chase Bank, Chick-fil-A, Dollar Tree, and Walgreens. Supporting the area’s continued retail demand is a rapidly expanding residential base with more than 1,700 recently completed or planned apartment units nearby, including developments such as Village 1373, Encore North, and Brooks North Apartments, all contributing to the corridor’s long-term consumer growth and economic stability. Historically recognized as a major manufacturing center for textiles and furniture, the broader Piedmont Triad region has transformed into a diversified economic growth corridor driven by aerospace, defense, aviation, logistics, and biotechnology industries. Major institutional investments continue to reshape the market, including a $14 billion battery manufacturing facility by Toyota Motor Corporation and a $4.7 billion production facility by JetZero, projects expected to generate more than 19,500 new jobs across the region. Supported by strong demographic expansion, accelerating economic development, and investment-grade corporate tenancy, this offering represents a rare opportunity to acquire a highly passive net lease asset at an attractive basis within one of North Carolina’s most dynamic and rapidly growing commercial corridors.