Starbucks Closings in Austin

July 19, 2008

austin real estate and starbucks closings

Starbucks’ National Closings

The recent news of Starbucks’ announcement of shutting the lights off in 600 of their stores across America has spooked many and buzz about it has echoed across the Internet. For years, many real estate speculators have looked to the deep pockets of companies like Starbucks’ research divisions for selecting store sites as indications of viable economic growth. Economists have watched their coffee prices as indicators of local economic success much commodities like gas, metals and others. With these store closings, people even locally are saying that it’s the armageddon. False.

Starbucks’ Texas Closings

According to Starbucks, Texas will be experiencing 57 store closures, two of which are in Austin (1007 South Congress and 5000 W. Slaughter) both nearby newly constructed Starbucks locations. To put that in perspective in the national scope, Texas only accounts for 9.5% of all closings and Austin only accounts for 0.3% of the closings nationally.

The Impact on Austin

How does this impact Austin? It doesn’t… that’s a tiny little blip; businesses open and close here every day, so for those measuring Austin’s economy based on coffee houses and prices, we’re still lookin’ pretty good (not to mention that within a mile of my personal home, two new Starbucks have had their grand openings in the past months).

original image courtesy of ak37

Posted by Lani, Asset Director | Filed Under Austin Events, Austin News, Blog, Human Interest 

Comments

One Response to “Starbucks Closings in Austin”

  1. Jay Valento - Long Beach real estate on July 31st, 2008 3:37 pm

    Perhaps you can move from Starbucks to Coffee Bean and Tea or Daily Grind or It’s a Grind….Austin will survive. I hear it is a great time. Plan to visit in the near future…perhaps invest in a few homes too.

    Jay

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