Krispy Kreme Land Sells for $4.7 Million

From the News & Observer...

UPDATE: Fans of Krispy Kreme don’t need to worry about the donuts shop leaving North Person Street anytime soon.

The store will stay on Person Street for at least another 20 years, according to a memorandum of lease and exclusive use filed by Broadstone Real Estate with the Wake County Register of Deeds. ...

Doughnut maker Krispy Kreme has sold two parcels of land on North Person Street to a New York-based real estate investment company for nearly $4.7 million.

The two parcels – at 549 and 551 N. Person St. – are the home of the only Krispy Kreme in Raleigh. The buyer was Broadstone KKD Portfolio LLC, a subsidiary of real estate investor Broadstone Real Estate, according to deed records. ...

It is unclear what the sale means for the future of Krispy Kreme on North Person Street. Efforts to reach both Winston-Salem-based Krispy Kreme and Broadstone Realty were not immediately successful.

Broadstone paid more than double the total assessed value of around $2 million for the two parcels, which make up just under an acre of land.
— Zachery Eanes - N&O
Brent Woodcox