Friday, January 27, 2017

Retailer Spotlight of the Month: Starbucks Reserve

Starbucks, the Seattle-based coffee giant, will nearly double the numbers of its shops over the next five years and in the process roll out a new higher-end format called Starbucks Reserve.

Starbucks Reserve Roastery in Seattle

The first Starbucks Reserve Roastery and Tasting Room debuted late 2014 in Seattle. This new concept seeks to immerse customers in the craft of roasting and brewing small lot specialty coffees from around the world. A success since its opening, the shop can be seen as a ‘coffee theater’, encouraging customers to interact with Starbucks roasters and baristas in order to deepen their understanding of the art and process behind roasting and brewing rare coffees.

Starbucks Reserve on 250 Vesey Street, New York City

Reserve stores' atmosphere are as curated as its premium coffees, with an attention to high end finishes and a contemporary-chic industrial look. The concept is being rolled out as new single stores but also by adding a Reserve bar experience to existing stores. It is also being adapted to a variety of retail footprints. For example, four Starbucks Reserve stores have recently open in smaller formats throughout New York City while a larger 20,000SF Reserve Roastery is set to open in the heart of the Meatpacking District next year.

Starbucks Reserve on 771 Broadway, New York City

The Meatpacking Reserve Roastery will be housed in a new building designed by Rafael Vinoly and steps from Chelsea Market. The new store will build upon everything Starbucks has learned from its Seattle location in terms of integrating coffee roasting, manufacturing, education and retail to create a unique experience.

Tailored for customers in each market, Starbucks plans to open up to 1,000 Starbucks stores with a Reserve coffee bar experience by the end of 2017. Twelve exist today located in New York, Chicago, Atlanta, Baltimore and Boston.

Price Point: high

Target Market: foodies, millennials, and patrons looking for high-quality coffee and crafted beverages

Site Requirements: Flexible; stores vary from 2,000 to 20,000 SF

Real Estate Contact Info:

David Firestein, Shopping Center Group

Taryn Brandes, Shopping Center Group

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