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How Starbucks Turned Coffee Into Real Estate
In this milestone episode, we explore how Starbucks transformed from a regional roaster into a global real estate powerhouse. We look at the specific strategic pivot where Howard Schultz realized that selling coffee was just the front door to a much more lucrative backend: property value and data-driven location intelligence. By analyzing their lease structures and store density models, we uncover how the company built one of the largest private real estate portfolios in the world without actually owning most of it. This story is about capital efficiency, urban planning, and the hidden…
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