Commentary with Newmark's Roseman

WILL WE SEE MORE STARBUCKS CLOSINGS?

Starbucks announced store closings, which signaled some people to start sounding the alarm that fevered times are upon us. In New York City, it may not be a big deal since on many corners if you don’t like one Starbucks, just cross the street to a different one. A whopping 84% of GlobeSt.com readers believe we’ll see more Starbucks shuttering their doors, while the rest of voters think Starbucks will stay the same. Jeffrey D. Roseman, executive vice president and principal of Newmark Knight Frank, believes the little coffee shop from Washington state may have a few more tricks up its barista sleeve.

“The Starbucks that will close are the ones that have directly impeded on an existing store. Quite frankly, I don’t think there are that many of them. Closing 600 stores sounds like a lot, but they have 14,000 stores internationally and domestically. It’s not a ton of stores.