Chipotle, Starbucks, Stanton Optical 5400 Forest Dr 7,035 SF 100% Leased Retail Building Columbia, SC 29206 £5,455,081 (£775.42/SF) 6% Net Initial Yield
INVESTMENT HIGHLIGHTS
- GREAT VISIBILITY AND ACCESIBILITY - OUTPARCEL TO EAST FOREST PLAZA
- STRONG CREDIT TENANTS
- LOCATED IN LOW VACANCY RETAIL NODE
EXECUTIVE SUMMARY
ATTRACTIVE LEASE FUNDAMENTALS
- Starbucks and Stanton Optical have recently signed 10 year leases with Chipotle signing a 15 year lease
- All 3 leases are corporately guaranteed
- All three leases have at least 3 x 5 year extensions left
- Each lease provides 10% rent increases every 5 years in base term and option periods
STRONG CREDIT TENANTS
- The recently built building has transferable warranties in place
- Chipotle has a market cap of $82B (NYSE: CMG) with over 3,200+ locations across the country, Starbucks has a S&P credit rating of BBB+ with over 35,000 locations worldwide, and Stanton Optical has more than 250+ locations in 28 states across the country
LOCATED IN LOW VACANCY RETAIL NODE
- 1.3M SF of retail space in a 1-mile radius boasting a 0.5% vacancy rate - according to
- Over 22.8K SF of absorption YoY | Nearby retail tenants include: Walmart Supercenter, Sam’s Club, Publix Supermarket, Lululemon, HomeGoods, and much more
GREAT VISIBILITY AND ACCESIBILITY - OUTPARCEL TO EAST FOREST PLAZA
- Site is positioned off of I-75 (96.1K VPD) and on busy Forest Drive (29.4K VPD)
- Direct access off of Forest drive and flow from the exit of the center
- Outparcel to Walmart Supercenter and Sam’s Club Anchored Center with more than 540K SF of retail space
- With the center being fully leased there is a large “Spillover Effect” to the outparcels
- According to Placer.ai the Walmart is the most visited in a 15 mile radius and ranking in the top 75% in the state
CLOSE PROXIMITY TO FORT JACKSON
- Located on the other side of the power center is Fort Jackson which is the largest US Army training facility in the country
- Around 16K people live on the Fort with 3,500 active duty military members
STRONG SURROUNDING DEMOGRAPHICS
- Within a 1-mile radius of the site the average household income is over $145K while the nationwide average is $80K
- Within a 5-mile radius of the site there are more than 153K people
- Within that same 5-mile radius there are more than 61K homes
- Within a 1-mile radius of the site the median home value is over $430K
- Starbucks and Stanton Optical have recently signed 10 year leases with Chipotle signing a 15 year lease
- All 3 leases are corporately guaranteed
- All three leases have at least 3 x 5 year extensions left
- Each lease provides 10% rent increases every 5 years in base term and option periods
STRONG CREDIT TENANTS
- The recently built building has transferable warranties in place
- Chipotle has a market cap of $82B (NYSE: CMG) with over 3,200+ locations across the country, Starbucks has a S&P credit rating of BBB+ with over 35,000 locations worldwide, and Stanton Optical has more than 250+ locations in 28 states across the country
LOCATED IN LOW VACANCY RETAIL NODE
- 1.3M SF of retail space in a 1-mile radius boasting a 0.5% vacancy rate - according to
- Over 22.8K SF of absorption YoY | Nearby retail tenants include: Walmart Supercenter, Sam’s Club, Publix Supermarket, Lululemon, HomeGoods, and much more
GREAT VISIBILITY AND ACCESIBILITY - OUTPARCEL TO EAST FOREST PLAZA
- Site is positioned off of I-75 (96.1K VPD) and on busy Forest Drive (29.4K VPD)
- Direct access off of Forest drive and flow from the exit of the center
- Outparcel to Walmart Supercenter and Sam’s Club Anchored Center with more than 540K SF of retail space
- With the center being fully leased there is a large “Spillover Effect” to the outparcels
- According to Placer.ai the Walmart is the most visited in a 15 mile radius and ranking in the top 75% in the state
CLOSE PROXIMITY TO FORT JACKSON
- Located on the other side of the power center is Fort Jackson which is the largest US Army training facility in the country
- Around 16K people live on the Fort with 3,500 active duty military members
STRONG SURROUNDING DEMOGRAPHICS
- Within a 1-mile radius of the site the average household income is over $145K while the nationwide average is $80K
- Within a 5-mile radius of the site there are more than 153K people
- Within that same 5-mile radius there are more than 61K homes
- Within a 1-mile radius of the site the median home value is over $430K
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,035 SF
Building Class
C
Year Built
2025
Price
£5,455,081
Price Per SF
£775.42
Net Initial Yield
6%
NOI
£327,320
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.13
Lot Size
1.25 AC
Zoning
C-3 - Commercial
Parking
52 Spaces (7.39 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- 2,325 SF
- -
- Double Net
- Jan 2040
Chipotle was born of the radical belief that there is a connection between how food is raised and prepared, and how it tastes. Real is better. "Better for You, Better for People, Better for The Planet". It may be the hard way to do things, but it’s the right way. One of the first national restaurant brands to commit to goals on local and organic produce. First national restaurant brand to commit to using only responsibly raised meat with some of the highest animal welfare standards.
- Stanton Optical
- Retailer
- 2,210 SF
- -
- Double Net
- Jun 2035
- Starbucks
- Retailer
- 2,500 SF
- -
- Double Net
- Apr 2035
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | 2,325 SF | - | Double Net | Jan 2040 | |
| Stanton Optical | Retailer | 2,210 SF | - | Double Net | Jun 2035 | |
| Starbucks | Retailer | 2,500 SF | - | Double Net | Apr 2035 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16706-04-04 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £846,977 |
