Update: Downtown Raleigh Krispy Kreme to stay another 20 years

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Fate of Krispy Kreme in Raleigh is unclear after sale of property to a New York developer.

The downtown Raleigh Krispy Kreme will stick around 20 more years, according to a document filed with the Wake County Register of Deeds.

Previous story: Krispy Kreme property sale leaves bad taste for locals in downtown Raleigh

The memorandum of lease and exclusive document stated that the lease for Krispy Kreme at the 551 North Person Street location will stand through 2038.

According to city records, the property sold for nearly $4.7 million to Broadstone KKD Portfolio LLC last week.

Residents we spoke to Monday were concerned about the uncertainty of losing the doughnut shop in the sale.

MORE FROM ABC11: Disney designer cancels plans for North Carolina theme park due to lack of investors

"That smell of jelly doughnuts is what gets us up the hill over here every Monday night," Michelle Ames said.

Good news for those doughnut lovers -- the hot light is staying on!

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