Starbucks and Other Businesses Near Disney World Reportedly Sell for Higher Prices
Starbucks locations near the Walt Disney World Resort can sell for nearly double the normal amount, just because they're close to the tourist destination.
The Orlando Business Journal reported this week that Starbucks locations in Central Florida usually sell for about $3 million, but ones near the Walt Disney World Resort can sell for much more, just because they’re close to the tourist destination.
In fact, they can go for twice that much.
The Journal pointed to the recent sale of a space near the resort leased to Starbucks. It went for $6 million, the paper said.
“Disney Retail A LLC — an entity related to Chicago-based real estate firm SRE Holdings LLC — paid $5.9 million on July 23 for a roughly 2,500-square-foot building leased to a Starbucks on 0.77 acres at 8699 Palm Parkway,” reported the Journal.
The Starbucks in the space opened this June.
Notably, this coffee shop is not on the 30,000-acre Disney property, but outside of it. Within the park itself and throughout other Disney properties and resorts, there are Starbucks locations.
Disney-themed news site Inside the Magic pointed out that following the announcement the company plans to relocate thousands of operations jobs from California to Florida, the Lake Nona area of Orlando is primed to see spikes in real estate development and retail.