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Reaction: The CEO of Zillow (Spencer Rascoff) and Zillow's top Economist (Stan Humphries), wrote a book Called #ZillowTalk. They mailed it to me as I am a Premier Agent with Zillow and its been great read through the first half of the book.
The Huffington Post did a precise job of summarizing the chapter but omitted how specific the radius Zillow used for their Starbucks hypothesis. There was a difference in price accretion between properties located .25 miles away and .5. The further away a property was from a Starbucks, the less the price accretion.
Starbucks Twitter Profile States: "Inspiring and nurturing the human spirit -- one person, one cup, one neighborhood at a time."
Who knew the last clause was as much a reality as much of a mission statement.
I believe Rascoff and Humphries' information is pretty cool, the authors do a great job of explaining this point further and its very convincing.
Arbitrary Point. By my office on Hamilton Blvd a Starbucks closed a few years ago. I guess it helps Real Estate everywhere except the shopping center at Mill Creek and Hamilton. However, I think they were just early to the area, it seems the shopping center has a lot of anchor stores that have been there for a while. More than anything, the store itself had less sqf than most Starbucks I have been too, I do not quite think it fit their model. I mean as nothing more than an anecdote.
The Starbucks Real Estate team is interviewed in Zillow Talk and they do not pretend to be perfect with site location by any means.
-Stephen
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