ROCKROSE SIGNS STARBUCKS TO TWO-STORY FIDI SPACE

Feb. 29, 2012 - Real State Weekly

Rockrose Development Corp. has signed a long-term retail lease to bring a new, two-story Starbucks cafe to Manhattan’s Financial Districtat 135 John Street. The world’s largest coffee shop chain will open in the space that the famed Grimaldi’s pizza had hoped to occupy with its own joint before becoming embroiled in an expensive legal battle with its Brooklyn landlord.

Statbucks is looking to go back to its roots with a traditional coffee house look and feel in the space that adjoins Rockrose’s 32-story residential tower, 200 WaterStreet. Renovations will highlight the structure’s original exposed brick walls, according to Rockrose, and the cafe will occupy two floors of the three-story building, comprising 1,100 s/f at street level and a 300 s/f mezzanine.

Originally designed as an office building, 200 Water Street was acquired by Rockrose and redeveloped as 576 luxury rental apartments in 1997.

Patricia Dunphy, senior vice president at Rockrose, said, “Starbucks is going back to its Seattle roots by keeping the exposed brick wall and creating a local coffee shop ambiance. This will be a tremendous amenity for our residents at 200 Water Street and a fine addition to the Seaport, just across the street.”

Starbucks was represented in the lease negotiations by David Firestein of Northwest Atlantic Real Estate Services. Rockrose was represented in house by Dunphy. Starbucks opened 95 new stores in its Americas division in the quarter ended January 1, 2012.

The new cafe will be part of the chain’s plan to open 400 new stores in the US, Canada and Latin America this year. There are about 7,000 Starbucks stores in the U.S. and the company has about 17,200 stores worldwide.