Harbert Retail’s Casey Howard and Lacey Scott represented the Seller, Moflehi Investments, LLC, in the investment sale of the new Dunkin’ location at 300 Commons Drive, Birmingham, AL. Howard also represented the Buyer, 300 Commons Partners, LLC, in the deal. The property sold for $1.475 million, yielding a 6% cap rate.
Harbert Retail’s Casey Howard and Lacey Scott represented the Dunkin’ franchisee, Bluemont Group, in the lease for the 3,610sf doughnut and coffee store which opened June 9th, 2020. The location has a new modern design and in-store innovations, including a cold beverage tap system and Dunkin’ on Demand digital kiosk where customers can order on their own. A mobile pickup area will be available for app orders, and a digital order status board enables order tracking.
Bluemont Group is one of Dunkin’s top franchisees in the country, recently winning Dunkin’s prestigious, “National Developer of the Year” award in 2018. Since their beginning in 2008, the company has had strong growth and now owns and operates over 43 stores throughout the Southeast. The company has over 58 years of combined real estate, franchise operations and equity management experience.
Casey Howard stated, “while Covid had slowed a lot of restaurants over the past few months, Dunkin’ kept going strong and we’re excited for them to open their second successful Birmingham store. The Lakeshore Parkway retail corridor has seen a significant amount of new growth in this market over the past 12 months with the addition of Conn’s Home Plus, Cookout, Bio Life, Holiday Inn Express, Premiere Cinemas and several others, in addition to other new developments underway like the Dobbins Group apartment project. ”
