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Little Road Cafe buys Starbucks

  • By Business Observer Staff
  • | 9:51 p.m. October 8, 2010
  • Commercial Real Estate
  • Share

BUYER: Little Road Cafe LLC (principal: Andrius Pranskevicius), West Palm Beach


SELLER: Boos-Rancho Del Rio LLC


PROPERTY: 5220 Little Road, New Port Richey


PRICE: $1.81 million


PREVIOUS PRICE: $1.1 million, September 2007


LAW FIRM ON DEED: Bryan J. Stanley PA, Clearwater


PLANS, DESCRIPTION: A real estate entity led by Andrius Pranskevicius of Newark, Del., purchased a 2,798-square-foot Starbucks for $1.81 million.


The price equated to $647 per square foot.


The purchase is an investment. Starbucks has nine years left on its triple-net lease on the property.


The Starbucks is an outparcel to the 62,038-square-foot Publix-anchored River Crossing Centre shopping center.


The Business Review was unable to contact Pranskevicius for comment.

 

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