Jul 19 2008
The news that Starbucks was planning on closing approximately 600 under-performing stores was accompanied with concern by some Baltimore City residents.? Starbucks, which was a relative late-comer to Baltimore compared to other major US cities, is seen by some as a bellwether to a city’s economy.? Starbucks is disparaged by some for supposedly? putting smaller coffee shops out of business, but others feel that? Starbucks helps other shops by? getting more? people hooked on the caffeinated drinks and by spurring other retail developments.?
Regardless of how you look at it, Starbucks has largely spared Baltimore? Area? from? the? closings sweeping across the nation.? The only two locations within the city limits that will close are the locations at Harborplace and Belvedere Square.
Personally, I was surprised to hear the Harborplace location was closing. Whenever I was there, the place was packed with tourists.? Rumor has it, that General Growth which manages the leasing at Harborplace has raised the rent? to push out some of the current retailers in an effort to bring in more “high-end” retail.? California Pizza Kitchen also recently fell victim to high rent at Harborplace and shut its doors.? With this economy, General Growth might just end up with a bunch of vacant storefronts.?
For a list of all Starbucks stores that are closing, follow the link below:
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