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JLL is pleased to offer for sale the fee simple interest in a newly-constructed Coffee Bean & Tea Leaf (the “Property”) located in Long Beach, California. The Property is leased to The Coffee Bean & Tea Leaf (“CBTL”), a globally recognized coffee chain with over 1,200 locations in 30 countries. CBTL is operating on a net lease structure with 15 years of primary lease term, minimal landlord responsibilities, and rental increases every five years throughout the primary term and renewal options. The Property also features a lease from EVgo on four of the Property’s parking stalls, offering additional rental income from the nation’s largest electric vehicle charging network. Located at the hard corner of Spring Street and Los Coyotes Diagonal, the Property sits in a densely populated and highly trafficked Long Beach retail thoroughfare just 20 miles south of downtown Los Angeles.
- Newly-constructed Coffee Bean & Tea Leaf Drive-Thru
- 15-year net lease with rental increases and 3, 5-year renewal options
- Additional rental income from EVgo electric car charging stations
- Hard corner location in Long Beach (Los Angeles MSA)