November 14, 2024 11:06 am
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Tempe Starbucks sells for $2.5M while Peoria CVS goes for $6M

Starbucks

By Mike SuStarbucksnnucks | Phoenix Business Journal

Coffee drinks at Starbucks can run $5 but what does it cost to buy a building that houses a Starbucks coffee shop?

A single-tenant building that houses a Starbucks in Tempe recently fetched $2.5 million. The 2,720-square-foot Starbucks location is at Warner and McClintock roads in Tempe.

The buyers are the AJ Gardner FamilyTrust and Childs Family Trust out of Los Angeles.

Scottsdale-based Garrett Development Corp. was the seller.

Starbucks (Nasdaq: SBUX) has been open at the location since 2014. It is located in the Cobblestone Village.

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