Krispy Kreme - Allen Park, MI 15050 Southfield Rd

Krispy Kreme has shown its long-term commitment to this site by exercising their second of four option periods, securing their lease through October 2028. The lease includes CPI increases at the beginning of each option period, which helps grow NOI and hedge against inflation. Krispy Kreme has been operating at this location since 2003, highlighting the strength of the site. The lease is signed by the corporate entity (NASDAQ: DNUT), and Krispy Kreme, founded in 1937, is a globally recognized brand with a strong customer base in 35 countries.
The tenant is responsible for CAM, taxes, insurance, and maintenance, leaving the landlord with no responsibilities. The property is located near numerous single-family communities and multi-family complexes, providing a direct residential consumer base. The trade area is supported by over 288,200 residents and 117,000 employees, with an average household income of $78,438.
Krispy Kreme is ideally situated within a dense retail trade area, surrounded by national and credit tenants such as Kroger, The Home Depot, Target, ALDI, Meijer, and ACE Hardware. The property is within 3 miles of Corewell Health Dearborn Hospital, Ford Research & Product Development Center, and Ford Dearborn Manufacturing Plant, making it a convenient option for coffee and dessert needs. The strong tenant synergy in the area increases consumer draw, promotes crossover store exposure, and contributes to the local economy.
The property is among the most visited bakeries and dessert shops in Michigan, with over 233,000 annual visits, ranking in the top 85th percentile according to Placer.ai. Strategically located along Southfield Road, it has excellent visibility and access, with an average of 61,700 vehicles passing by daily. The property is a quick 19-minute drive into Downtown Detroit and is equipped with a drive-thru for customer convenience.