Renovation and Sale of DC’s Historic Starbucks Building

Robb LaKritz, a former US Treasury Department special assistant and advisor, co-founded LaKritz Adler Development with Josh Adler. In his role with the company, Robb LaKritz has been involved in many real estate development projects, including a historic Dupont Circle building in Washington, DC.
The company purchased the commonly dubbed Starbucks Building for $14.9 million in 2010 and meticulously renovated it. The location was the coffee shop’s first East Coast store, signaling the company’s expansion across the US. The spot is usually full of people, as the corner is one of the busiest in the city.
The 9,718-square-foot building, which also houses Reishman Real Estate and the Alton Lane men’s clothing shop, among other tenants, and is fully leased. Starbucks’ agreement there stretches to 2035.
The building had been through $3.7 million worth of renovations, and income from tenants was around $700,000, garnering interest from real estate groups all over the world. In 2014, the building was sold to Harbor Group International for $16.2 million, among the biggest sales in the DC area at the time in terms of price per square foot.
