New Construction Starbucks 1509-1 Washington St

Marcus & Millichap is pleased to exclusively offer a new construction Starbucks that is expected to start rent in November 2024. This is the only Starbucks location within a nine-mile radius, ensuring limited competition in the area. Ideally positioned at the heart of downtown Two Rivers, Wisconsin, the site is adjacent to three major marinas—Seagull, Lakeshore Center, and Miles Marina. The location benefits from a built-in customer base due to the town's tourism-driven economy. Situated directly in front of the Cobblestone Hotel & Suites, which features 55 rooms, the Starbucks is also just a 10-minute walk from Neshotah Beach on Lake Michigan and a five-minute walk from the East and West Twin Rivers.
The lease is corporately guaranteed by Starbucks Corporation, boasting a BBB+ credit rating. With over 10 years remaining on the lease, the agreement includes four five-year options to renew. Rental increases are scheduled every five years during the base term and option periods. The property offers a modest rental rate and price point compared to other new construction Starbucks locations. The net lease also includes limited landlord responsibilities, and the site features a drive-through with ample stacking space, as well as an outdoor patio for customers.
Located in a major tourist area and a thriving downtown center, the Starbucks benefits from nearby attractions such as the Hamilton Wood Type & Printing Museum, the Wisconsin Maritime Museum, over a dozen fishing charters, and numerous hiking trails along Lake Michigan. Two Rivers is also home to a U.S. Coast Guard station, under the Department of Homeland Security. The active downtown program, "Two Rivers Main Street," consistently hosts events throughout the year, greatly benefiting the Starbucks location with a steady stream of visitors.