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Client Spotlight: Starbucks

November 7th, 2023 – Starbucks has grown tremendously since its first store opening in Seattle in 1971. Today, there are over 35,000 Starbucks stores across the world. Over the years, Starbucks has been committed to carrying out their mission of promoting community engagement and striving to create new projects that foster growth and meaningful conversation. Recently, Starbucks partnered up with the Lebron James Foundation to create the Lebron James Community Store at House Thirty Three in Akron, Ohio. Starbucks worked with Lebron James to build a safe space for members of the community to learn and build life skills as employees, and to provide a location for people to gather and support local schools, artists, and organizations. All proceeds from this store go to the Lebron James Family Foundation and are then invested directly back into the community. The “first-of-its-kind” store opened on March 30, 2023.

Goodman Real Estate Services Group LLC has been a Starbucks partner since 2007 and has completed more than 100 relocations and new store leases in Ohio. Starbucks reported record revenue in the July-September 2023 period, as comparable store sales rose 7% in North America and the US. This increase is driven largely by accelerated growth across the U.S. portfolio as new stores, including many that are more focused on drive-thru and curbside service, are helping sales. Starbucks global store portfolio is expected to grow by roughly 7% annually on a net basis from fiscal 2023 to fiscal 2025. Globally, Starbucks expects to approach 45,000 stores by the end of 2025 and is well on track to reach approximately 55,000 stores by 2030.

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