Seattle Coffee Co. leased the 26,788-sf fifth floor of the Fifth & Pine Building in late 2001 and its lease runs through 2009. Grubb & Ellis broker James Keating has the sublease assignment. The annualized triple-net asking rental rate is $11.15 per sf. The flyer on the property states that furniture and phones could be worked into a deal, and that an additional 13,000 sf is available on a direct basis.
Starbucks paid Atlanta-based AFC Enterprises Inc. $72 million in cash for Seattle Coffee Co. this past summer. The purchase included the Seattle's Best Coffee and Torrefazione Italia Coffee brands, which soon will be roasted at Starbucks roasting facility in Kent, WA, rather than Seattle Coffee Co.'s facility on Vashon Island.
Starbucks Center is the largest building in Seattle with two million sf of office, retail and warehouse space. Starbucks leases a goodly potion of the building to other users. About 2,500 Starbucks employees work at the center.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
