Akton Realty has begun construction on phase I of the project, which will include a new 14,400-sf retail facility; phase II will be an additional 9,000 sf. Akton notes that "several national tenants" have committed to the space at the property, but besides the doughnut purveyor, is not yet releasing names. The Krispy Kreme store will be a freestanding drive-through facility.
Currently Krispy Kreme has 10 stores in metro Chicago. The Krispy Kreme franchise concept has been expanding aggressively nationwide in recent years. According to the company, 28 new Krispy Kreme stores opened during the fourth quarter of its fiscal year 2002 (ended February 2, 2003) in six new markets — including northern California, New England and Washington, DC.
All together, the Winston-Salem, N.C.-based doughnut company opened a total of 63 stores and two doughnut and coffee shops during fiscal tear 2003, and entered 18 new markets. Also, the company opened its first location outside of North America, in Sydney, Australia. Its total number of stores at the end of fiscal 2003 was 276.
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