Krispy Kreme Looking for Sweet Deal

SEATTLE-KremeWorks Washington, maker of the famous Krispy Kreme doughnuts will open a new store near Safeco Field in Seattle’s Sodo region, if its permits are approved.

KremeWorks has signed an agreement to lease a proposed building at First Avenue South and South Holgate Street, on the existing site of a KeyBank branch. The lease will be enacted upon approval of the development’s permits, and the company hopes to open its new store early next year.

KremeWorks signed the agreement with First Holgate LLC, a partnership of Walla Walla’s Logan family that bought the Sodo property last year for $1.7 million.

When Krispy Kreme Doughnuts opened last year in Issaquah, a suburb of Seattle, the company reported that the store’s sales broke company records with first week sales of $454,125.

Earlier this year, KremeWorks signed a similar lease with Pacific Centers Inc. to occupy a building in a proposed retail project at North 125th Street and Aurora Avenue North in Seattle. The store is slated to open in the spring of next year and will be located in a stand-alone, 4,200-sf building.

The Sodo proposal will be similar to the North Seattle proposal. According to a company spokesperson, details of the development and lease will be finalized when the permits are approved.