If the housing turmoil isn't enough, caffiene addicts have more to worry about - the closing of Starbucks locations. While the closings aren't necessarily unexpected, collapsing coffee coffers may be due to Starbucks departure from their discplined approach regarding the selection of locations. Starbucks was considered the master in real estate selection, grinding over demographics, traffic patterns, VPH statistics etc. Growth expectations may have gotten the best of them.
I guess we learn time and time again - stick to the fundamentals - seems they work.
From a realtor's perspective, the advent of a new Starbucks location was a telltale sign of a "hot spot" or an up and coming area - not so much anymore. Many a buyer has told me, "If I can't walk to a Starbucks, I ain't buyin' it." How's that for loyalty?
I am a self-confessed caffiene addict - I like it simple: a venti black-eye. When hearing of the 600 store closures, I was rangled - concerned that my daily routine would be seriously altered - however, I was happy to find out that Chicago and its suburbs dodge the major bullet, Chicago only 5 locales, collectively - Chicago and suburbs 24 locales.
Now - I feel for those now afflicted - let's just say I'm glad I'm not selling real estate in Florida. It's hard enough living in a state where property values are dropping 30%+ in value. Take the Starbucks location away - it may as well be worthless.
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