Dunkin’ Donuts franchisee Vantive Group is leasing 2,000 square feet at 2425 Rice Street, according to a news release from Dunkin’ Donuts broker Colliers International Minneapolis-St. Paul.
Hempel Cos. is renovating the strip mall. Construction is expected to wrap up this fall.
Chicago-based Vantive Group has rights to the east Twin Cities metro, which includes St. Paul and its suburbs.
“We’re excited to have Vantive join the Twin Cities market,” said Molly Townsend, senior associate with Colliers. “This is just the first of many future Dunkin’ Donuts restaurants for Vantive Group. We’re actively negotiating on a number of other sites, and are looking forward to watching them grow in the Twin Cities.”
Another franchise group, Kod Kod Enterprises, signed a lease for New Hope in May. That group was also represented by Colliers.
Canton, Mass.-based Dunkin’ Donuts (NASDAQ: DNKN) has 11,900 shops worldwide. It announced deals with franchise groups for a Twin Cities expansion in October.