Starbucks Plaza

Address

1000 - 1100 Lowes Blvd & 2600 Trimmer Rd
Killeen, TX 76542

Investment Overview

Starbucks Plaza (the "Property") consists of two, multi-tenant retail buildings totaling 17,125 square foot, located in Killeen, TX. The property is two separate buildings, Building One totals 13,125 sf and Building Two is approximately 4,000 sf. Built in 2004, the property has been well maintained and has no visible deferred maintenance. The property is situated on the hard corner of Trimmier & Lowes Blvd directly across the street from HEB which sees over 2.3 million customers annually. The property has optimal frontage with over 325 feet on Lowes Blvd and 300 feet on Trimmier Road. The overall retail area is very highly trafficked, seeing over 15.8M visitors annually. Within 5 miles of the property there are 192,000 people and the population is rapidly growing.

At 100% occupancy, Starbucks Plaza offers stable cash flow. Starbucks Plaza is anchored by notable national tenants such as Starbucks (ranked #1 for Visits/SF in Killen per Placer.ai), Sport Clips, GameStop, and Firehouse Subs. The asset continues to show strong viability by the recent renewal of Starbucks. Lease expirations are scattered from 2024 to 2029 with a WALT of 4.13 years. Multiple of the tenants have been in their space for over 15 years suggesting a high renewal probability. Due to the prime location, national tenants, and below market rents, Starbucks Plaza is a desirable opportunity for a new investor.