09/24/2020 | Press release | Distributed by Public on 09/25/2020 07:28
ORLANDO, September 24, 2020 -JLL Capital Markets announced today that it has closed the sale of a 3,000-square-foot, single-tenant retail building in Lantana, Florida, that is ground-leased to Dunkin' and representing the largest Dunkin' location in Palm Beach County.
JLL marketed the properties on behalf of the seller, Regency Centers. A private investor purchased the asset.
Dunkin' is an American global donut company and coffeehouse based in Canton, Massachusetts. Founded in 1950, the company is a leading coffee and baked goods chain with more than 13,000 restaurants in 41 countries. Situated on 0.81 acres at 1101 S. Dixie Hwy. in Lantana, the property is in a dense, infill location along US 1 nine miles south of West Palm Beach and 31 miles north of Fort Lauderdale. Additionally, the property is in the grocery-anchored Lantana Village Square and adjacent to a proposed multi-housing development that would add nearly 280 units. The building, which was completed in 1981, features a drive-thru, making this Dunkin' location one of only 40% of all locations that have drive-thru capabilities.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt, Director Michael Brewster and Analyst Joseph Naas.
'It's true that 'America runs on Dunkin',' as the brand has received industry recognition for the fastest drive-thru service in the business,' Brewster said. 'For many customers and investors, nothing is more essential than a cup of coffee.'
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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