Velocity Retail Represents Krispy Kreme Franchisee in Chandler Building Purchase

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Andy Kroot

Krispy Kreme Doughnuts franchisee Hot Glazed Enchantment, Inc. of New Mexico purchased the former Washington Mutual Bank building at the  southwest corner of Chandler Blvd and Alma School Rd in Chandler, AZ. The transaction closed escrow on August 26, 2013 with Andy Kroot of Velocity Retail Group, LLC representing the Buyer and SRS Real Estate Partners representing the Seller – Grossman/Robson Associates. The building was +/-3,504 SF on 1.23 acres of land and sold for $837,500.

“We are pleased to be able to help Krispy Kreme expand their presence and product offering in the greater Phoenix area,” said Kroot. “And we are continuing to look for sites (for sale or for lease) in the 1,500 SF – 3,500 SF range on freestanding locations or end caps with drive-thru.” 

Krispy Kreme has four stores open in the greater Phoenix area; the Mesa factory at Superstition Springs Boulevard/US 60 Freeway, 7055 E. Shea Blvd., Scottsdale AZ, 1984 West Main St., Mesa, AZ & 3201 W. Indian School Rd., Phoenix, AZ, with other stores in the works. Krispy Kreme was founded in 1937 in Winston-Salem, NC, and is well known for its signature hot Original Glazed® doughnut. Krispy Kreme is traded on the NYSE as KKD; currently there are 649 Krispy Kreme locations in 21 countries around the world.

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