Please do not leave this page until complete. This can take a few moments.
AUBURN — A Krispy Kreme franchise is slated to anchor a new retail center at 410 Center St., owned by Massachusetts-based R&D Research LLC, which purchased the site from PFO Properties LLC.
Bob Raymond, a partner at R&D Research, said the partnership is investing $3 million in a four-tenant retail strip that will be anchored by two national franchises — Krispy Kreme and Firehouse Subs. Cricket Wireless is also expected to lease space at the plaza, Raymond said, and he’s exploring options for the fourth space.
It will be the first Maine location for Krispy Kreme (NYSE: KKD), which is based in Winston-Salem, N.C., and has 1,000 stores. Firehouse Subs, which is based in Jacksonville, Fla., has sites in Biddeford and Topsham among its 1,050 locations. Firehouse also plans a store for Waterville Commons in Waterville, according to its website.
Raymond has a retail plaza in Nashua, N.H. There, he became acquainted with a businessman named Cort Mendez, the Krispy Kreme franchisee for New Hampshire and Maine. Mendez also became a partner in R&D Research LLC, said Raymond. NH Glazed LLC signed an agreement with Krispy Kreme Doughnuts Inc. in February to open four Krispy Kreme stores in New Hampshire and three in Maine.
Raymond and his team scouted potential sites and settled on the Auburn property. Sylas Hatch from NAI The Dunham Group brokered the sale, which closed Aug. 9.
The 1.22-acre parcel, which had been on the market six years, had been a site of a Paris Farmers Union store which operated from 1979-2010, before the company moved to larger quarters in Lewiston and nine other locations.
The site also included two single-family homes. The buildings have been razed, said Raymond. Construction of the new 8,400-square-foot, single-story building, with drive-through, is expected to be complete by late fall.
The site is advantageous because it’s on one of the busiest retail corridors in the Lewiston/Auburn area, according to Raymond.
“There’s 24,000 cars per day going by there,” said Raymond. The road provides access to Interstate 95 and has already proven to be a popular location for other franchises, such as Pizza Hut and Tim Hortons.
Raymond has seen great success in a similar project, rebuilding an economically distressed retail plaza in Nashua that was a nice building, he said, but just needed to be better managed.
“In three years,” he said, “we added 200 original jobs and turned the plaza around, from generating $3 million per year to over $12 million per year. We brought real jobs and real dollars to that community.”
Read more
Donut tell us you're bluffing: Maine could soon have Krispy Kreme
Local doughnut makers weigh in on Krispy Kreme plans
First Krispy Kreme opening planned for Auburn
Developer with an eye for 'fixer-uppers' finds a Skowhegan plaza
Retail strip seen benefiting from Falmouth, Portland markets
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
Comments