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Business
New Starbucks opens in Sun City
Remodeled bank now serving up java
Posted
Bell Camino Shopping Center 10920 W. Bell Road Sun City, AZ
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A new Starbucks opened at the former location of Wells Fargo Bank on the northwest corner of West Bell Road and North Del Webb Boulevard in Sun City.
Diversified Partners, the leading Scottsdale real estate brokerage and development company, completed constructions on the 2,788-square-foot-space, which includes a drive-thru lane, interior café and a patio for outdoor seating. It is the second standalone Starbucks west of Loop 101 in Sun City. The first was constructed on the southwest corner of West Grand and North 107th avenues. There are two other Starbucks locations in the age-restricted community — one inside the Safeway store in the Bell Camino center and another in a strip mall on the southwest corner of West Bell Road and North 99th Ave., which is now closed.
“We are thrilled to have been able to develop another store for Starbucks,” said Walt Brown, Jr., Diversified Partners CEO and founder. “It’s a great location and this will be the 10th Starbucks Diversified Partners has brought to the Greater Phoenix area in less than five years.”
The former Wells Fargo Bank building was purchased by Brown Feb. 14, 2020, for $1.1 million, redeveloped and then sold at a 3.9 percent cap rate Feb. 14, 2022. A cap rate is calculated by net operating income divided by the sales price of the asset. It shows the potential rate of return on a real estate investment. Emma Barreca represented Diversified Partners on the sale.
