Pueblo Starucks 2173 W Pueblo Blvd 2,390 SF Retail Building Pueblo, CO 81004 $4,357,209 CAD ($1,823.10 CAD/SF) 5.50% Cap Rate

The property is located in Pueblo, Colorado, a city with a population of approximately 111,500 that is projected to grow 6% between 2023 and 2033. The site sits within the Lake Minnequa, Urban Renewal Area, part of a long-term redevelopment plan running from 2007 to 2032. Pueblo’s economy is supported by healthcare, government, and manufacturing, with major employers including Parkview Medical Center (UCHealth) and Colorado State University–Pueblo (7,000 students and 350+ staff). The city is also experiencing strong industrial and economic momentum. Denver-based Voyager Technologies is investing $39 million to build a new aerospace and defense manufacturing facility expected to create around 120 jobs, with construction beginning in 2026. Additionally, EVRAZ Rocky Mountain Steel, was recently acquired by Atlas Holdings in a $500 million transaction, positioning the facility for long-term modernization. The region is also investing in workforce development, including a state-funded aviation training program, along with lifestyle improvements such as an $11 million Arkansas River Park Redevelopment. Manufacturing growth from companies like CS Wind and EVRAZ continues to drive employment expansion, while infrastructure improvements, including the $114 million I-25 and US-50B interchange project that began in late 2024, are enhancing regional connectivity and supporting future growth.
The offering is a fee-simple retail property leased to Starbucks. The asset is secured by a 10-year corporate lease with built-in rent growth, including 10% rent increases in Year 6, Year 10, and throughout the four 5-year renewal options. The tenant is the largest coffee chain in the world with approximately 41,000 stores across more than 80 countries (NYSE: SBUX). The United States is its largest market with over 17,000 locations, while internationally the company maintains a strong presence in China (7,500+ stores), Japan, Canada, and the United Kingdom. Starbucks locations are designed to capture daily consumer traffic in growing retail corridors. The company prioritizes markets with population growth, strong employment bases, and convenient access for residents, commuters, and students, characteristics present in Pueblo’s expanding economic and infrastructure environment.