PROVIDENCE – A group of three Dunkin’ Donuts LLC restaurant sites in Providence and Cranston was purchased recently for a total of $8.6 million, according to public records.
Kateden LLC, a limited liability company based on Smith Hill for nearly 15 years, recently purchased the Dunkin’ restaurant site at 850 Eddy St. in Providence for $2.6 million, according to the warranty deed, a public record of the property sale.
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The Providence property was sold by a company called 850 Eddy Street LLC, which owned the site since July 2010, when it first bought 850 Eddy St. for $435,000.
Kateden describes itself in corporate filings as a real estate holding company, managed by another company called Dan’s Management Co. LLC, led by its president, James T. Lynch.
Dan’s Management Co. states on its website that it independently owns and operates nine Dunkin’ restaurants in Providence under a franchise granted by DD Franchising LLC, including those at 850 Eddy St. and Kateden’s 251 Smith St. headquarters. Dan’s Management Co. operates two other Dunkin’ locations in Woonsocket; three in Coventry; four in Cranston; six in Warwick; two in West Warwick; three in Richmond; and about eight others around Rhode Island. Dan’s Management Co. also owns three Dunkin’ sites in Connecticut, according to the website.
In addition to 850 Eddy St., Kateden also recently purchased 1288 Oaklawn Ave. in Cranston for $3.4 million, according to the warranty deed for the sale. The Oaklawn Avenue property is the site of one of the Dunkin’ restaurants operated by Dan’s Management Co.
Kateden bought the Oaklawn Avenue property from a company called Oaklawn Ave. Management LLC, a limited liability company based in Cranston, which is headed by its sole member, Christopher DiFanti, according to the warranty deed. Oaklawn Ave. Management has owned the property since 2002, when it originally purchased the site for $800,000, according to city property records.
Kateden also recently bought 283 Park Ave. in Cranston, the site of a third Dunkin’ restaurant, for $2.6 million, according to the warranty deed for the sale. Kateden bought the Park Avenue site from a company called Park Avenue Management LLC, another limited liability company operated by DiFanti, who is based in Boca Raton, Fla.
While it sold for $2.6 million, the 850 Eddy St. property was most recently valued by Providence appraisers in fiscal year 2023 as being worth $747,000.
The 283 Park Ave. property, while also selling for $2.6 million, was most recently valued by Cranston assessors in 2023 as being worth $650,000, according to the city’s online property tax evaluation database.
The Oakland Ave. Dunkin’ property, while it sold for $3.4 million, was most recently valued by city assessors in 2023 as being worth $1.53 million, according to the online database.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama.
