Chicago & Midwest + Midwest + Retail | January 19, 2022

Build-to-Suit Omaha Starbucks Trades in 1031 Exchange

Marcus & Millichap closed the sale of a Starbucks property located at 9004 Fort St. In Omaha. The asset traded for an undisclosed sum in a 1031 exchange.

The property, a 2,225-square-foot building with a drive-thru, was developed as a built-to-suit for Starbucks by Monfort Companies, a community-minded investment and development company whose real estate portfolio includes multiple retail brands, including 7-Eleven, Jack’s Convenience Stores, Speedway and Monfort Express.

“Starbucks is a great project partner and we look forward to developing several more build-to-suits with them in the coming months across the region,” said Kenneth Monfort, EVP for Monfort Companies.

Drew Isaac, senior managing director in Marcus & Millichap’s Denver office, marketed the property for Montfort Companies. The buyer, a private capital investor, was secured and represented by James K. Rassenfoss and Boomer Beatty, also of the Denver office. Jon Ruzicka, Broker of Record, also assisted in closing this transaction.

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Marcus & Millichap's Isaac

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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