Caribou Coffee

Lowest
Cap Rate

5.25%

Lowest cap rate over past 24 months

Average
Cap Rate

5.85%

12 mo avg with 5+ yr lease term

Overview

Corporate-operated Caribou Coffee locations are typically 1,800 to 2,500 square feet, often developed as freestanding buildings with drive-thrus or endcap units with patio seating. Properties are found in suburban and urban infill markets, and leases are typically structured as 10- to 15-year absolute NNN, with 10% rent increases every 5 years and multiple renewal options. Most new builds follow a prototype suited for quick-service and mobile order traffic.

Average Property & Lease

Average Sale Price	$1,800,000 – $2,500,000
Average NOI	$105,000 – $150,000
Building SF	1,800
Lease Term	15 Years
Escalations	10% Every 5 Years
Stock Symbol	N/A

CREDIT RATING

S&P	N/A
Moody's	N/A

TENANT DESCRIPTION

Caribou Coffee was founded in 1992 in Edina, Minnesota, as a cozy alternative to larger coffee chains with a focus on premium roasts, warm atmospheres, and community engagement. The brand quickly gained popularity throughout the Midwest and expanded nationally. In 2012, Caribou was taken private by JAB Holding Company, a global investment firm that also owns Panera Bread and Peet’s Coffee. Today, Caribou operates both corporate and franchise locations and is part of Panera Brands, one of the largest fast casual restaurant groups in the U.S.

Founded	1992
Headquarters	Minneapolis, MN, U.S.
Number of Locations	750
Revenue	$400 M
Company Website	https://www.cariboucoffee.com
Key Principal	John Butcher

Caribou Coffee

Lowest Cap Rate

5.25%

Average Cap Rate

5.85%

Overview

Average Property & Lease

CREDIT RATING

S&P

N/A

Moody's

N/A

TENANT DESCRIPTION

PROS

CONS

COMPANY QUICK STATS

Lowest
Cap Rate

Average
Cap Rate