The Dupont Circle Starbucks Building Sold for a Record-Breaking Price

LaKritz Adler Development, LLC pic

LaKritz Adler Development, LLC
Image: lakritzadler.com

Over the past two decades, Robb LaKritz has led a highly successful career as a real estate developer, investor, and policymaker. Currently leading LaKritz Holdings, LLC, as chairman and CEO, he spent 10 years serving as co-founder and managing partner of LaKritz Adler Development, LLC (LAD). Together with his partner, Robb LaKritz invested in and developed several properties throughout Washington, DC, including the Dupont Circle Starbucks Building.

Acquired by LAD in 2010, along with the adjacent Beadazzled building, the Dupont Circle Starbucks Building at 1501 Connecticut Avenue, NW, Washington, is home to the eastern United States’ first Starbucks store along with other high-end boutique commercial and retail space. Spanning the basement, first, and second floors in the buildings, Starbucks covers roughly one third of the total space and has agreed to lease the area through early 2035. The remaining space is filled by Beadazzled, Reishman Real Estate, and BBB Fresh Pan-Asian cafe, all of which have leases extending to at least 2018.

LAD owned the Dupont Circle Starbucks Building for five years, and in 2015 it was acquired by Harbor Group International in a record-setting sale. The fully leased buildings were sold for over $16 million, or $1,672 per square foot.

The Benefits of Membership with YPFP

Young Professionals in Foreign Policy pic

Young Professionals in Foreign Policy
Image: ypfp.org

Robb LaKritz, a reputable leader in law, real estate development, and investing, and leads LaKritz Holdings, LLC, as chairman and CEO. When he’s not busy investing through his international private equity fund, Robb LaKritz is involved in a variety of organizations, particularly the Young Professionals in Foreign Policy, of which he is a member.

Dedicated to helping young professionals gain the skills and knowledge to become foreign policy leaders, Young Professionals in Foreign Policy (YPFP) offers a wide variety of benefits and unique professional opportunities to its members. Members are able to attend special events and the annual YPFP Affairs of State Gala. They can participate in weekly events with a focus on career development and global issues, and also have the opportunity to engage with current and future foreign policy leaders. The organization provides its New York and Washington, DC, members with access to regional discussion groups and public service opportunities, along with educational programming and access to published articles.

Members also receive a variety of valuable discounts through YPFP. The Churchill Centre offers a 25 percent membership discount, which includes preferred access to the Centre’s website, discounted rates for conferences, and a subscription to its journal. Additionally, YPFP members are given exclusive access to online case studies and lectures on global public management at Columbia University and receive a 50 percent discount on subscriptions to publications such as Diplomatic Courier and World Policy Journal. Further, members are eligible for several scholarships and discounts on services like the Princeton Review.

Investment Philosophies of Private Equity Funds

Robb LaKritz, co-founder of LaKritz Adler Development in Washington, D.C., has years of experience in the real estate development and investment arena. A former presidential appointee, Robb LaKritz is also the founder and CEO of LaKritz Holdings, a diversified private equity fund invested around the world.

A private equity fund is generally a partnership of firms or individuals formed to invest in private companies. Usually created with capital for investments not traded on a public exchange, private equity funds target specific industries or a broad market and often have long investment horizons. Once a sufficient stake in ownership is obtained, a private equity fund seeks to improve the value of an investment through an expansion strategy or operations and management changes.

The structure of a private equity fund often consists of a fund manager and corporate experts who monitor the companies in which the fund has an ownership stake. The fund manager oversees investment goals which may involve:

-Venture capital – financing companies in early growth stages.
-Growth capital – financing the expansion of an established company not traded on the public market.
-Leveraged buyout – financing existing management to enable it to take a controlling share in a company.
-Distressed buyout – financing a company unable to meet debt obligations. This usually includes a turnaround strategy.