Krispy Kreme is expected to build next to Outback Steakhouse at Fourth Street N and 19th Avenue.
Krispy Kreme Doughnuts is expected to be the companion restaurant to Outback Steakhouse on the Bradford Coach House property on Fourth Street N.
The 1900 Coach House Partners Inc., who own the property, signed a contract with a Krispy Kreme franchisee for the vacant land south of the Bradford and across 19th Avenue N from the restaurant, according to Vicki Loges, one of the partners.
"They made an offer on the south parcel, and we have accepted their offer," Loges said of the franchise holder. She added, however, that the deal includes a 90-day inspection period by the company, lease negotiations between the franchisee and Krispy Kreme, and 120 days for permitting for construction.
So none of the famous, widely sought Southern confections will be available right away at the Bradford location.
Krispy Kreme Doughnut Corp. would not confirm the site, but spokesman Stan Parker in Winston-Salem, N.C., said: "We are looking around for potential sites in St. Petersburg. We are interested in a store in that area."
Loges said an Ocala man owns the Krispy Kreme franchise. The store would be built by a local developer. It would be a retail shop but also serve as a distribution point for businesses in Pinellas County that sell Krispy Kremes.
"They don't have a distribution point in Pinellas County," Loges said. "Those (sold now in the various businesses) are being distributed from Tampa."
The Krispy Kreme site is familiar to St. Petersburg residents as a lot where pumpkins and Christmas trees are sold during the holidays. If the franchisee buys the entire parcel, the sales price is $750,000, plus a $50,000 broker's fee. Loges said she was willing to shave off about 75 feet of the lot if the buyer wants a slightly smaller piece for $700,000, plus a $40,000 broker's fee. The remainder would be used for parking, she said.
"Outback was very amenable to Krispy Kreme," Loges said.
The 1900 Coach House Partners announced last week that they were negotiating with Outback as the new restaurant to fill the long-vacant Bradford site. Loges said the partners now have a signed deal with Outback. "So the clock is ticking on that project," she said. September has been mentioned as the target opening date for the popular steak restaurant, Loges said.
Also part of that renovation project are plans for nine to 11 townhouses to be built behind the restaurants and facing Crescent Lake and Fifth Street N. The townhomes would be priced from $325,000 to $375,000, the partners said.