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Newmark Arranges $435 Million Refinancing for Iconic Starbucks Center Headquarters in Seattle's SoDo District

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Newmark (NASDAQ:NMRK) has successfully arranged a $435 million refinancing for the iconic Starbucks Center headquarters in Seattle's SoDo District. The financing was provided by Deutsche Bank on behalf of Nitze-Stagen & Co. and Daniels Real Estate.

The landmark office property, spanning 1.48 million square feet, has been Starbucks' headquarters since 1993 and has undergone over 60 expansions. Notably, Starbucks has recently extended its commitment to the property with a new 20-year lease through 2038 and has invested over $300 million of its own capital in the building.

Newmark (NASDAQ:NMRK) ha concluso con successo un rifinanziamento da 435 milioni di dollari per l'iconico quartier generale Starbucks Center nel distretto SoDo di Seattle. Il finanziamento è stato erogato da Deutsche Bank per conto di Nitze-Stagen & Co. e Daniels Real Estate.

La storica proprietà ad uso ufficio, che si estende su 1,48 milioni di piedi quadrati, ospita la sede di Starbucks dal 1993 ed è stata ampliata oltre 60 volte. Di recente, Starbucks ha rinnovato il proprio impegno con un nuovo contratto di locazione di 20 anni fino al 2038 e ha investito oltre 300 milioni di dollari di capitale proprio nell’edificio.

Newmark (NASDAQ:NMRK) ha logrado concretar un refinanciamiento de 435 millones de dólares para la emblemática sede Starbucks Center en el distrito SoDo de Seattle. El financiamiento fue proporcionado por Deutsche Bank en nombre de Nitze-Stagen & Co. y Daniels Real Estate.

La propiedad emblemática de oficinas, que abarca 1.48 millones de pies cuadrados, ha sido la sede de Starbucks desde 1993 y ha experimentado más de 60 ampliaciones. Recientemente, Starbucks ha renovado su compromiso con la propiedad mediante un nuevo contrato de arrendamiento de 20 años hasta 2038 e invirtió más de 300 millones de dólares de su propio capital en el edificio.

Newmark (NASDAQ:NMRK)는 시애틀 소도 지구에 위치한 상징적인 스타벅스 센터 본사에 대해 4억 3,500만 달러 규모의 재융자를 성공적으로 성사시켰습니다. 이 금융은 Nitze-Stagen & Co.와 Daniels Real Estate를 대신하여 Deutsche Bank가 제공했습니다.

이 랜드마크 오피스 건물은 148만 평방피트에 달하며 1993년부터 스타벅스 본사로 사용되어 왔고 60회 이상의 확장이 이루어졌습니다. 특히, 스타벅스는 최근 2038년까지 20년간의 새 임대 계약을 체결하며 건물에 자체 자본 3억 달러 이상을 투자했습니다.

Newmark (NASDAQ:NMRK) a réussi à organiser un refinancement de 435 millions de dollars pour le siège emblématique Starbucks Center dans le quartier SoDo de Seattle. Le financement a été accordé par Deutsche Bank au nom de Nitze-Stagen & Co. et Daniels Real Estate.

Ce bâtiment de bureaux emblématique, d'une superficie de 1,48 million de pieds carrés, est le siège de Starbucks depuis 1993 et a connu plus de 60 extensions. Récemment, Starbucks a renouvelé son engagement envers la propriété avec un nouveau bail de 20 ans jusqu'en 2038 et a investi plus de 300 millions de dollars de ses propres fonds dans le bâtiment.

Newmark (NASDAQ:NMRK) hat erfolgreich eine 435 Millionen US-Dollar Refinanzierung für das ikonische Starbucks Center Hauptquartier im SoDo District von Seattle arrangiert. Die Finanzierung wurde von der Deutschen Bank im Auftrag von Nitze-Stagen & Co. und Daniels Real Estate bereitgestellt.

Das markante Bürogebäude mit einer Fläche von 1,48 Millionen Quadratfuß dient seit 1993 als Starbucks-Hauptsitz und wurde über 60 Mal erweitert. Kürzlich hat Starbucks sein Engagement mit einem neuen 20-Jahres-Mietvertrag bis 2038 verlängert und über 300 Millionen US-Dollar Eigenkapital in das Gebäude investiert.

Positive
  • Secured substantial $435 million refinancing for a landmark property
  • Starbucks signed new 20-year lease extension through 2038, demonstrating long-term commitment
  • Property has strategic tenant investment of over $300 million
  • Transaction involves major tenant Starbucks in prime Seattle market
Negative
  • None.

Insights

Newmark's $435M refinancing of Starbucks HQ demonstrates strong commercial real estate capabilities and signals valuable revenue generation.

Newmark's arrangement of a $435 million refinancing for the iconic Starbucks Center headquarters represents a significant transaction that showcases the company's strength in the capital markets and debt services sectors. This deal highlights Newmark's ability to execute large-scale financing arrangements for landmark properties, demonstrating their capabilities to institutional investors and potential clients.

The transaction carries particular weight given the property's high-profile nature as Starbucks' global headquarters spanning nearly 1.5 million square feet. The refinancing was secured by senior members of Newmark's Global Debt & Structured Finance team, including Co-Presidents Jonathan Firestone and Jordan Roeschlaub, indicating the strategic importance of this deal.

What makes this refinancing especially valuable is Starbucks' recent 20-year lease extension through 2038, which significantly enhances the property's stability and long-term income potential. This extension, coupled with Starbucks' $300 million capital investment in the building, creates an exceptionally secure financing opportunity that Newmark successfully capitalized on.

From a business perspective, this transaction likely generates substantial fee income for Newmark while reinforcing their position as a key player in arranging complex financing solutions for trophy assets. The deal strengthens Newmark's reputation in the competitive commercial real estate services sector, potentially attracting additional high-value clients seeking similar financing arrangements for landmark properties.

SEATTLE, July 30, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the Company has arranged a $435 million refinancing on behalf of Nitze-Stagen & Co., Inc. and Daniels Real Estate for Starbucks Center, a landmark office property prominently located at 2401 Utah Avenue South in Seattle's SoDo District. The financing, provided by Deutsche Bank, was secured by Newmark Co-Presidents of Global Debt & Structured Finance Jonathan Firestone and Jordan Roeschlaub, along with Vice Chairman Blake Thompson. Co-Head of U.S. Capital Markets Kevin Shannon also supported early stages of the assignment.

"The closing of this refinancing positions Starbucks Center for continued excellence as one of the city's premier office assets," said Firestone. "This transaction ensures the continued vitality of this globally recognized property, which serves as the mission-critical headquarters for Starbucks Corporation and has stood as an enduring symbol of the brand's heritage and growth."

Starbucks Center, originally occupied by Starbucks in 1993, has undergone more than sixty expansions over the past three decades to accommodate the company's dynamic growth. Spanning a substantial 1,488,081 square feet of office space, the building is widely acknowledged as an architectural icon in one of the West Coast's most sought-after gateway markets. Its evolving infrastructure continues to reinforce its strategic significance within Seattle's business landscape.

Further demonstrating its long-term commitment to the property, Starbucks recently signed a new 20-year lease extension, securing its headquarters at Starbucks Center through 2038. To date, Starbucks has invested over $300 million of its own capital in the building, emphasizing the company's dedication to its employees and the surrounding SoDo District community.

About Nitze-Stagen & Co, Inc.
Nitze-Stagen & Co, Inc.is a multi-generational, integrated real estate investment, development, and management firm with a history of executing ambitious adaptive reuse projects in the Puget Sound Region. These include the Starbucks Center, Union Station, Merrill Place, and the Ainsworth & Dunn Warehouse. In all of its projects the company seeks to create value for both the surrounding communities and its investors.

About Daniels Real Estate, LLC
Daniels Real Estate, LLC is a development firm with senior leadership that has provided unrivaled architectural and artistic contributions to the Seattle Skyline. The company is nationally respected for their focus on adaptive reuse projects and whose team has saved some of Seattle's most iconic buildings such as Sears Robuck (Starbucks Center), Stadium Place, The Emerald, The Graystone, F5 Tower, The Sanctuary, Seattle Plumbing Building (Gridiron Condominiums), Union Station, Frye Art Museum, Merrill Place, and St. Edward Seminary in Kenmore: The Lodge at St. Edwards.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

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SOURCE Newmark Group, Inc.

FAQ

What is the value of the refinancing Newmark arranged for Starbucks Center?

Newmark arranged a $435 million refinancing for the Starbucks Center headquarters in Seattle's SoDo District.

How long is Starbucks' new lease extension at their Seattle headquarters?

Starbucks has signed a 20-year lease extension, securing their headquarters at Starbucks Center through 2038.

How much has Starbucks invested in their Seattle headquarters building?

Starbucks has invested over $300 million of its own capital in the building.

How large is the Starbucks Center headquarters in Seattle?

The Starbucks Center spans 1,488,081 square feet of office space.

When did Starbucks first occupy their current Seattle headquarters?

Starbucks has occupied the building since 1993, with over sixty expansions completed over the past three decades.
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