CHICAGO—Landlords with retail spaces to lease are always on the lookout for new concepts that can bring in curious people off the street. One of the most familiar retail brands in the US has a new concept, and is ready to bring it to the Magnificent Mile. Starbucks Coffee Co. said yesterday that in 2019 it will open a Starbucks Reserve® Roastery at the corner of N. Michigan Ave. and Erie St. This will represent the company's third Roastery location in the US, following Seattle, which opened in December 2014, and New York City, which will open next year.
The outlet will be more than the usual coffee shop. The 43,000 square-foot space, currently home to a Crate & Barrel, will be the world's largest Starbucks. And much like its flagship Seattle location, which was the most successful store opening in the company's history, the four-story Chicago Roastery “will be a fully sensorial coffee environment dedicated to roasting, brewing and packaging its rare, small-batch Starbucks Reserve coffees from around the world.”
The move is just one part of the company's plan to open 12,000 new locations globally by 2021, an increase of nearly 50% on its current store count worldwide. Starbucks will put a lot of emphasis on increasing its footprint in China, and unveiling new concepts like the Roastery and a set of drive-thru stores.
“Having opened our first Starbucks store in Chicago nearly thirty years ago, our first outside of Seattle, this is a very special city for me,” said Howard Schultz, Starbucks executive chairman. “Chicago is a city of neighborhoods, so we took our time to find an incredible space to match the unprecedented coffee experience our premium Roastery will offer. To be located on one of the best-known retail streets in the world is a proud moment for all of us and we can't wait to bring Chicago and the world a coffee experience worthy of their most premier real estate.”
CBRE's Robert Wislow, Camille Julmy and Todd Siegel represented the landlord, Gordon Segal, in the transaction.
CHICAGO—Landlords with retail spaces to lease are always on the lookout for new concepts that can bring in curious people off the street. One of the most familiar retail brands in the US has a new concept, and is ready to bring it to the Magnificent Mile. Starbucks Coffee Co. said yesterday that in 2019 it will open a Starbucks Reserve® Roastery at the corner of N. Michigan Ave. and Erie St. This will represent the company's third Roastery location in the US, following Seattle, which opened in December 2014, and
The outlet will be more than the usual coffee shop. The 43,000 square-foot space, currently home to a Crate & Barrel, will be the world's largest Starbucks. And much like its flagship Seattle location, which was the most successful store opening in the company's history, the four-story Chicago Roastery “will be a fully sensorial coffee environment dedicated to roasting, brewing and packaging its rare, small-batch Starbucks Reserve coffees from around the world.”
The move is just one part of the company's plan to open 12,000 new locations globally by 2021, an increase of nearly 50% on its current store count worldwide. Starbucks will put a lot of emphasis on increasing its footprint in China, and unveiling new concepts like the Roastery and a set of drive-thru stores.
“Having opened our first Starbucks store in Chicago nearly thirty years ago, our first outside of Seattle, this is a very special city for me,” said Howard Schultz, Starbucks executive chairman. “Chicago is a city of neighborhoods, so we took our time to find an incredible space to match the unprecedented coffee experience our premium Roastery will offer. To be located on one of the best-known retail streets in the world is a proud moment for all of us and we can't wait to bring Chicago and the world a coffee experience worthy of their most premier real estate.”
CBRE's Robert Wislow, Camille Julmy and Todd Siegel represented the landlord, Gordon Segal, in the transaction.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
