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2.07.2008
Starbucks Sold to West Coast REIT
 Capital Pacific recently closed on a Starbucks located in Altus, OK with a West Coast-based REIT. It was part of a 5-store portfolio that is being transacted off-market and features a “rolling close” that will continue through this March, when each unit opens. Back in August of 2007, the seller was debating about whether to sell the properties. Capital Pacific performed an analysis to determine that the disposition made sense, based on sales comps and the first signs of the credit market turbulence. As a result, the seller achieved an approximate 7.1% blended Cap Rate for the portfolio, which would be difficult to match today, with an unpredictable market, and recent setbacks of Starbucks.
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Capital Pacific recently closed on a Starbucks located in Altus, OK with a West Coast-based REIT. It was part of a 5-store portfolio that is being transacted off-market and features a “rolling close” that will continue through this March, when each unit opens. Back in August of 2007, the seller was debating about whether to sell the properties. Capital Pacific performed an analysis to determine that the disposition made sense, based on sales comps and the first signs of the credit market turbulence. As a result, the seller achieved an approximate 7.1% blended Cap Rate for the portfolio, which would be difficult to match today, with an unpredictable market, and recent setbacks of Starbucks.