- NNN Beast - Net Lease News Digest
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Starbucks Unveils Ambitious Growth Strategy for 55,000 Locations by 2030
Starbucks Corp. plans to expand its store count to 55,000 globally by 2030 as part of its new long-term growth strategy, which also aims to generate $3 billion in savings and enhance the in-store and digital experience through tech partnerships.
Net Lease Cap Rates Increased for the Sixth Consecutive Quarter
Cap rates in the single tenant net lease sector increased for the sixth consecutive quarter within all three sectors in the third quarter of 2023 to 6.51%. Single tenant cap rates increased to 6.27% (+10 bps) for retail, 7.41% (+14 bps) for office and 6.96% (+16 bps) for industrial in the third quarter.
Fat Brands to Convert Smokey Bones Restaurants into Twin Peaks Stores for IPO Boost
Fat Brands plans to convert up to two-thirds of Smokey Bones restaurants into Twin Peaks locations, aiming to leverage the higher average sales of Twin Peaks and accelerate growth for their upcoming initial public offering.
68 Circle K Stores Across 21 States To Be Sold
Alimentation Couche-Tard Inc., a leading convenience and fuel retail company, has hired advisory firm NRC Realty & Capital to manage the sale of 68 Circle K stores in 21 states, offering a range of opportunities for individual operators and smaller companies.