Dunkin’ Donuts plans to substantially increase the number of Manhattan coffee outposts over the next three years, several sources familiar with the plans told The Real Deal.
The mid-price coffee chain is looking to open 60 new or relocated stores in the borough which would be part of the company’s modernized concept called Next Generation, which is targeting new customers and millennials with coffee brews on tap and a new layout.
The increase in stores would bring Dunkin’ Donuts much closer to the borough’s largest chain store, Starbucks, which as of late 2017 had 223 locations. Dunkin’ Donuts had 161 stores in Manhattan in December, according to the annual ranking of chain stores by the Center for an Urban Future.
The spike would also be significant, compared with the change from 2016 to 2017, during which the number of stores only grew by four.
Thomas Citron and Adam Weinblatt of Newmark Knight Frank are representing Dunkin’ Donuts’ corporate office on its real estate strategy in Manhattan. Dunkin’ Donuts locations are owned by franchises. Citron and Weinblatt declined to comment, and Dunkin’ Donuts did not immediately provide comment.
The chain is generally looking for locations of about 800 square feet to up to 1,800 square feet, but can take smaller spots, a source said.
Dunkin’ Donuts signed a lease this week for 600 square feet at Abramson Brothers’ 501 Fifth Avenue in Midtown, one source said.
Correction: An earlier version of this story incorrectly said that some stores are owned by Dunkin’ Donuts corporate.