Starbucks Coffee

Our strategic assessment at the time of purchase was that the extensive and underutilized 19-acre Ronnie’s Plaza site presented overlooked out-parcel development opportunities. The Savoy team identified an alignment between Starbuck’s interest in expanding their footprint in the area, the existing retail mix of the shopping center and local demand. Starbuck’s entered into an 11-year lease and we worked with their corporate real estate team to develop a new-construction free-standing out-building. The out-parcel development adds increased value to Ronnie’s Plaza while the high-profile café brings an exciting new amenity to the local community and existing tenants.

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