High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Chicago & Midwest  + Midwest  + Retail  | 

Well-located Krispy Kreme Trades in Grand Rapids

A single-tenant net lease Krispy Kreme at 2700 E Beltline Ave SE in Grand Rapids, MI has traded for $1.6 million in a deal arranged by the Boulder Group. The property benefits from location on a dominant retail corridor, with two premium malls including the Shops at CenterPoint, where the Krispy Kreme occupies an outparcel.

Randy Blankstein and Jimmy Goodman of the Boulder Group represented both the seller and purchaser in the transaction. The seller was a joint venture based in the Northeast and the purchaser was a high net worth investor based in Florida.

Krispy Kreme recently exercised an early renewal option, demonstrating its commitment to the location. The lease features 10% rental escalations every five years throughout the primary term, as well as in each of the three remaining five-year renewal option periods.


Get Chicago News in 150 Words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Read more at Boulder GroupConnect With Boulder Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action
New call-to-action