Starbucks Opens a Tasting Room and Express Stores

The famous coffee chain announced its plan to open a Starbucks Roastery and Tasting Room in Seattle. The tasting room is expected to open in December and will increase availability of higher priced, small-lot Reserve coffees.

Starbuck’s fast-growing Reserve coffee line is available to 1,500 locations globally, and the tasting room will help expand the Reserve coffee line. Howard Schultz, Starbucks CEO, believed The Starbucks Reserve Roastery will transform the future of coffee. Not only will the tasting room help spread the brand but attract customers who like to indulge in coffee. The Reserve coffee plans to grow its presence worldwide.

Latin America’s Reserve location just opened as part of a three-level store. This is Starbuck’s first Latin American Reserve location. The store is part of a three-level store serving 100 percent Colombian coffee and expects to exceed $1.5 million in sales for the first year.  Starbucks plans to open 100 more stores with limited availability coffee within the next five years. Along with the Reserve stores, the coffee chain will be investing in smaller, alternative stores. The first test stores will appear in New York City. The store will offer fewer products but reduced waiting times for consumers. The new express setup will focus on digital payments and mobile ordering. 

 

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Nick Banks

Nick created Front Street Commercial Real Estate Group in 2002 and spent the first eight years developing and acquiring office and retail projects in South Florida as well as North Central Florida. In 2010 the focus of the firm was shifted to primarily serve third party clients and perform brokerage, property management and mortgage banking functions. Nick has personally developed and acquired nearly 200,000 square feet of office and retail properties in markets throughout Florida. Prior to founding Front Street, Nick was the Director of Finance and Dispositions for Stiles Corporation in Fort Lauderdale where he financed and sold over $500 million in commercial real estate. Before joining Stiles, Nick was an Associate Director at GE Capital Real Estate where he sourced over $200 million in financing throughout Florida. Nick is a graduate of the University of Florida with a degree in Finance and a concentration in Real Estate. He serves as a board member and current vice-chair for the United Way of North Central Florida where he also chairs the Development Committee. Nick is actively involved with the Gainesville Area Chamber of Commerce where he serves as a board member and committee member for the Council for Economic Outreach. He is also a recent graduate of Leadership Gainesville which is a year long leadership program hosted by the Chamber. He is a member of Grace United Methodist Church where he has served as finance chair and as a member of the leadership council. Nick serves as an advisory board member of the University of Florida Bergstrom Center for Real Estate Studies. Nick was recently named chair of the Gainesville committee for the North Florida chapter of Urban Land Institute (ULI). He is a licensed real estate broker in the State of Florida and is a long time member of the International Council of Shopping Centers.

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