image Dining Real Estate

The ‘Bucks Stop Here

By Joseph Mariani

June 18, 2014

Hollywood/Orange, Hollywood/Highland, Hollywood/Las Palmas, Sunset/Gower, Hollywood/Vine. That’s right, you can find five different Starbucks locations throughout downtown Hollywood, and in talking with the company this week I found out that our number is continuing to grow. The trend is one happening across the country, and if you think Americans don’t need that much coffee, you could be wrong.   In an article this year, CEO Howard Schultz was quoted as saying that the company is actually “significantly under stored in North America,” with plans to soon add 1,500 additional stores globally (600 of which will be in North America).  So where to put all these stores? Well, if usage is any indication of success, there is much reason to believe that Hollywood will be the grounds (no pun intended) where some of these new locations may just spring up.

I can remember a few years ago our staff literally begging the previous owners of our building at Hollywood and Vine to find a coffee shop for their ground floor retail space.  All we would hear was, “they’ll never make it.” Today that corner hosts one of the liveliest Starbucks I’ve ever seen.  Just go ahead and try and get a drink during rush hour…or say any hour.  The nice part is that this success has been duplicated in other recently opened locations in the area like Hollywood/Orange.

In speaking with one of Starbucks’ District Managers this week he shared with me that the company is a big believer in Hollywood, not just the market but the neighborhood as well.  Without providing me specific numbers, I was told that the company has seen “very pleasing results” from not only their previously existing Hollywood locations, but also those recently opened.  With such positive activity and interest here in Hollywood it is no mystery as to why the company recently announced that they would be opening a new location at the south-east corner of Sunset and Vine, the former ‘Go Burger’ space, in about 45 days.  The 2,800 square foot space will be your next stop for all the Mocha-Frapa-La Boulange goodness you can handle. The store will not only be one of the largest in the area, but will also look to integrate with the community through its décor and social responsibility efforts.

Starbucks is also well aware of where the neighborhood is headed.  The current office expansion, our residential development boom, and let’s not forget our bustling tourists, all make Hollywood an attractive location for the company, as well as any other business potentially considering Hollywood for its next location.  “This neighborhood is growing and offers a huge opportunity for businesses like ours,” said the district manager I spoke to. So with that let’s raise our coffee cups and cheers – to making the most of good opportunities.

Interior of the Starbucks store located at Hollywood and Vine, in the historic Taft building.

Interior of the Starbucks store located at Hollywood and Vine, in the historic Taft building.

A member of the Hollywood Property Owners Alliance staff since 2007, Joseph Mariani has enjoyed seeing the continued positive growth in Hollywood. Serving as the BID’s Director of Strategic Initiatives and Business Development Mariani works closely with property owners, the retail and investment community, commercial real estate brokers and the city’s economic development team to implement the BID’s strategic marketing and communications blueprint.  He holds a bachelor’s degree from the University of California, Riverside and completed his MBA at UC Irvine’s Paul Merage School of Business.  Mariani is an avid sports fan, loves spending time with his amazing wife, and enjoys volunteering at the Oasis of Hollywood. Check out the latest Hollywood happenings @GoodNewsJoe

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