Case Study

Starbucks HQ

Starbucks HQ
Starbucks

A headquarters so flexible that even one of the fastest growing companies in the U.S. can’t grow out of it.

Transaction Details

Client: Starbucks Corporation
Size: 1M SF
Space Type: Office
Sector: Corporate
Service Line: Brokerage, Consulting & Strategic Planning, Portfolio Management & Optimization
Keywords: HQ, Adaptive re-use
Total Client Transactions: 30+

Detailed Expertise

  • Site selection and negotiation services
  • Qualitative and complex GAAP, tax and financial analysis
  • Acquisition, feasibility analysis, project formation
  • Negotiations related to city zoning and use regulations
  • Strategic acquisition of surrounding properties for flexibility

Challenge

Over 20 years ago, Starbucks had fewer than 100 stores but big plans — so big that the company thought a suburban office campus was the only answer to their need for expansive space at an affordable price. But Starbucks was, and is, an urban creation. With that in mind, Kinzer set out to find a unique city-based alternative that would support the Starbucks brand and give it the flexibility to grow.

Solution

After considerable investigation, Kinzer began to zero in on a former Sears warehouse with more than one million SF of space on a developing edge of downtown Seattle. The building, combined with a creative lease structure providing unprecedented flexibility, was able to accommodate Starbucks’ tremendous growth that was beyond even their most optimistic projections. The rest is history. After leasing an initial 100,000 SF, Starbucks had the ability to expand on demand, eventually occupying 1.1 million SF over 20 years.

Today, the revitalized Starbucks Center is a landmark in the now bustling SODO neighborhood and a testament to Starbuck’s commitment to the environment and adaptive re-use. At the time, the retrofit of this building was the only Sears warehouse in the national portfolio to be re-used instead of demolished.

More Case Studies

All Case Studies

Ready to Get Started?

Temporary Office Closure

Kinzer Partners’ office is closed temporarily in order to keep our employees safe and stop the spread of COVID-19. The safety of our employees, clients, partners, and vendors are of the utmost importance.

While we might not physically be sitting at our desks, we are still connected and available to assist you with any commercial real estate struggles you are having. We’d venture to say our work from home (WFH) dress codes might be ten times better than that in the office! A small solace during this crazy time.

If you have questions on anything regarding your real estate and how it is/has/will be changing in the current environment, don’t hesitate to reach out. We might not have all the answers but we will navigate the unknown right alongside you, offering support and virtual HH drinks when needed.

Wishing you safety, health and ask you to keep washing those hands!

Everyone at Kinzer Partners

For local economic resources

For COVID-19 information