JLL arranges retail lease for international doughnut franchise
News release
20 May 2024
Krispy Kreme Doughnuts to open Jersey Shore location
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DENVILLE, N.J., May 20, 2024 – JLL announced today it has completed a new lease with multinational doughnut company and coffeehouse chain Krispy Kreme in Town & Country Shopping Center at 1900 Rt. 70 in Lakewood, New Jersey.
A Krispy Kreme franchise group, expanding its New Jersey footprint in Paramus, Springfield, East Rutherford and Jersey City, signed a lease for a 4,000-square-foot factory-store. Nearly two decades after Krispy Kreme last had a store in Ocean County, it will take over what was previously a McDonald's complete with a drive-through window.
Krispy Kreme, which bills itself as the home of the Original Glazed Doughnut, is set to open the new Lakewood location Fall 2024. The Lakewood factory-store will feature a “glaze waterfall’ and conveyor belt, where doughnuts are made fresh right in front of customers.
The doughnut retailer has scaled its business internationally, with locations in more than 30 countries and a rapidly growing e-commerce and delivery business. The stores are known for their ‘Hot Doughnuts’ sign which lights up when the freshly made doughnuts are on the conveyor.
JLL Managing Director David Townes and Vice President Alana Friedman represented the tenant in the transaction. R.J. Brunelli & Co. represented the landlord, Steiner Equities.
"We are thrilled to bring this beloved doughnut shop back to the neighborhood after nearly 20 years," Townes said. “Krispy Kreme is a dynamic addition to Town & Country Shopping Center’s retail experience, which accesses a significant population from its location right off of Route 70.”
Owned by development, management and leasing firm Steiner Equities, Town & Country Shopping Center totals 443,600 square feet, and is anchored by Home Depot and Value City Furniture. Originally built in 1991, it is located just off busy Route 70, surrounded by a population of over 205,000 with an average of 41,000 vehicles passing the center every day.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.