Seattle-based Starbucks Corp. plans to make $100,000 in improvements to its coffee shop at Red Arrow Park in downtown Milwaukee, under a proposed lease extension.
Starbucks has had a coffee shop at the park, located at 920 N. Water St. and known for its ice skating rink, since 2002.
Starbucks’ initial lease for the coffee shop at the park was for 10 years with two optional five-year extensions. Starbucks expressed a desire to renegotiate its lease deal because of improvements it planned to make at the site, according to a Milwaukee County Parks Department report.
Starbucks plans to invest “at least” $100,000 in improvements in its coffee shop at the park including new flooring, restroom upgrades, new indoor and outdoor furniture and cabinets.
The proposed lease extension for Starbucks would extend the lease to Oct. 31, 2023 with two optional five years extensions. The extensions would be done under mutual agreement of Starbucks and the county.
The proposed lease rate for the 969-square-foot Starbucks coffee shop space at Red Arrow Park is $27,132 per year for 2014-18, $29,845 per year for 2018-23, $32,829 per year for 2023-28, and $36,114 per year for 2028-33.
The Starbucks lease was approved unanimously today by the County Board’s Parks, Energy and Environment Committee. The deal is subject to approval of the full County Board.
