Starbucks closes downtown Seattle store in Docusign Tower
Starbucks closed its downtown Seattle store at 999 Third Ave. in the Docusign Tower, according to the Puget Sound Business Journal. The company did not renew its lease, and a Starbucks spokesperson cited multiple factors including that Docusign plans to vacate the building next summer. Docusign’s departure would raise the tower’s vacancy to 56%.
How this was made
The 30-second read
Why it matters
The newest concrete fact is that the Docusign Tower Starbucks location closed because the lease was not renewed, with Docusign’s planned move cited as a factor.
Market read
Operational footprint change at a single location, consistent with ongoing store-closure strategy, but without financial or guidance implications.
What to watch
The article does not quantify lease costs, expected savings, or whether the “Back to Starbucks” plan offsets closures with higher-performing locations elsewhere.
Background
Starbucks has been closing hundreds of stores over the last year and is pursuing its “Back to Starbucks” plan to upgrade stores and reduce wait times.
Ticker impact
Starbucks closed its downtown Seattle store at the Docusign Tower after deciding not to renew the lease, citing Docusign’s planned departure.
Low near-term impact on the stock; any effect is likely incremental versus broader company-wide store strategy.
The article is localized (one Seattle store) and does not provide company-wide financial guidance, but it does confirm a specific operational decision tied to a tenant move.
Market effects
Reinforces continued store closures and lease churn in retail coffee, but provides no new data on demand or margins.
Highlights downtown Seattle vacancy risk rising as a major tenant (Docusign) exits and Starbucks reduces presence.
Limited, as the disclosure is operational and geographically narrow with no broader financial metrics.
Counterpoint
The closure may be more about lease economics and tenant relocation than demand weakness, so it may not signal broader deterioration in traffic.
Key entities
- companyStarbucks
Closed its store at 999 Third Ave in the Docusign Tower after opting not to renew the lease.
- companyDocusign
Planned to vacate Docusign Tower by next summer, contributing to higher building vacancy.
- mediaPuget Sound Business Journal
Reported the lease non-renewal and closure details.
