YEAR-END RECONCILIATIONS – REIMBURSEMENT FOR ANNUAL OPERATING EXPENSES
NNN ADJUSTMENTS – CHANGES TO MONTHLY ANNUAL OPERATING EXPENSES
REMIT, NOTICE, AND CONTACT CHANGES
ESTOPPEL CERTIFICATE AND/OR A SUBORDINATION AND NON-DISTURBANCE AGREEMENT (SNDA) PROCESSING
INSURANCE CERTIFICATE OR A MEMORANDUM OF INSURANCE (MOI)
Starbucks Store Number:
Starbucks use store number and 2 letter state abbreviations to differentiate stores (Store #0000-WA). Store number references can also be found on most Starbucks communications to landlords, including rent checks, estoppel certificates and legal notices.
Year-End Reconciliations – Reimbursement for Annual Operating Expenses
Annual Operating Expense Reconciliation Statements can be sent to Starbucks at the Notice Address or emailed to Financial Lease administration.
Any Annual Reconciliation Statement, invoice or request for payment must contain reasonable detail, including (1) breakdown of expenses (2) tenants pro- rata share (3) cap on ongoing expenses and management fees (4) actual monthly payments made by Starbucks and (5) Invoice copies of RE Tax, INS, and other large expenses.
You should receive a response to your reconciliation statement within the prescribed time, per the terms of the Lease—usually 60 days from receipt.
To expedite processing of your payment we recommend using the following template -
- Annual Operating Expense Reconciliation Template & Instructions
NNN Adjustments – Changes to Monthly Annual Operating Expenses
NNN adjustments can be sent to Starbucks at the Notice Address or emailed to Financial Lease administration.
All NNN adjustments to the monthly payments you receive for operating expenses must be received at least 30 days prior each calendar or fiscal year. To expedite processing of your payment we recommend using the following template -
- Annual Operating Expense Budget Template
Starbucks requires written notice of a change in ownership from the “Seller” to the Legal Notice Address in the Lease. To mitigate potential risks of fraud, in addition to written notice, Starbucks requires the following:
- W-9 in the name of the new owner
- Assignment of Lease, Grant Deed, Deed of Trust, stating the names of the prior and new owner, that has been signed by both the prior owner and the new owner.
Remit, Notice, and Contact Changes:
To change your notice or payment address, change current property management contact or entity name, Landlord must send written notice to the Legal Notice Address in the Lease.
Estoppel Certificates and/or a Subordination and Non-Disturbance Agreement (SNDA) Processing:
Please send your request to the Legal Notice Address in your lease via certified mail or overnight delivery.
Estoppel/SNDA request will be processed within the time period identified in your lease. Expedited Processing can be requested for a fee.
Insurance Certificate or a Memorandum of Insurance (MOI):
You can view and print the Starbucks MOI online. You will be asked to accept the terms and conditions of access before proceeding.