Largest Dunkin’ location in Palm Beach County sold
JLL Capital Markets closed the sale of the single-tenant, ground-leased asset in Lantana, Florida
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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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Regency Centers
Regency Centers is the preeminent national owner, operator and developer of shopping centers located in affluent and densely populated trade areas. Its portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers and best-in-class retailers that connect to their neighborhoods, communities and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.