It would be the first Starbucks in Lebanon. Starbucks is already in Hanover.
The property’s developer, who bought the parcel last year, has already hired a commecial real estate firm to sell the completed project to investors.
Construction of a new 6,000-square foot building, which will also include an Aspen Dental office, is expected to be completed in time for occupancy in the fall, said Preet Sabharwal with Marcus & Millichap, which has been retained by the developer, Alrig USA, to sell the property.
Michigan-based Alrig USA bought the 0.9 acre parcel for $1.7 million in October and, after spending about another $1.2 million in construction costs and locking in multi-year rental agreements with Starbucks and Aspen Dental, has listed the property for sale at $4.2 million, according to city planning department records and the real estate agent’s offering memorandum.
Find a full report in Wednesday’s Valley News.
Starbucks to Open Store Along Route 12A in West Lebanon