Donovan Real Estate Services is proud to announce a new Starbucks has opened in South Ithaca’s Tops Plaza in partnership with DLC Management.
While doing tenant rep work, a broker must look for ways to help improve a tenant’s position within a market, as well as how and where to enter new markets. This location helps Starbucks capture more market share by expanding their footprint beyond the downtown core that caters to college students. Opening a store in a large commercial corridor like South Ithaca helps to serve customers where they shop in addition to where they may live or work.
This deal had numerous variables to balance when negotiating as it involved slicing up a larger space, retrofitting a drive-thru, and doing it all for a rent structure the tenant could be profitable with. DLC Management is a sophisticated operation, and we were able to create a comfortable middle ground for both parties.