22
Mar
Downtown Phoenix Starbucks sells for $2.5 million
A Starbucks Corp. (NASDAQ: SBUX) coffeehouse location in downtown Phoenix that just opened sold for $2.5 million.
The recently finished 1,946-square-foot building is located on just over a half acre on the southeast corner of Seventh Avenue and Roosevelt Street in Phoenix. It sold for $1,293 per square foot, which was 100 percent of the asking price.
The property was purchased by Douglas Parking, LLC. Commercial real estate firm Lee & Associates represented the buyer in the transaction.
“This…
Source: Arizona Business Journal
