AIDEA loan aids state’s first Krispy Kreme

It looks like Southcentral Alaskans will have a new way to get their sugar fix, thanks in part to the Alaska Industrial Development and Export Authority.

The state economic development corporation’s board approved participation in a $6.9 million loan Sept. 24 to finance an East Anchorage retail center that is slated to house Alaska’s first Krispy Kreme donut shop.

Located near the intersection of Debarr Road and Muldoon Road, the 21,000 square-foot retail center will also include a BurgerFi, the national chain’s second Alaska restaurant, and a Body Renew fitness center.

The center is currently under construction. An opening date was not discussed at the AIDEA board meeting.

Krispy Kreme announced plans in late 2013 to open four shops in Anchorage and the Matanuska-Susitna region over the coming three years.

The loan is to Westdahl LLC of Anchorage.

AIDEA is participating in the loan for nearly $6.3 million over 25 years — 90 percent of the total amount. The remainder will be handled by Northrim Bank, which brought the deal to AIDEA and will service the entirety of the loan.