The donut shop will have a drive-through and free Wi-Fi for customers. Operating hours are 5 a.m. - 9 p.m. daily.
The Peabody location is also one of eight new Honey Dew stores this year. Other nearby locations are in Salem, Wakefield and Georgetown.
As for other tenants at 130 Newbury St., the bridal and women's apparel shop the Ultimate will occupy the entire second floor (10,000 square feet) and there were discussions at one point to bring in a national pizza chain.
The old Countryside Motel was razed at the site to make way for the new commercial building.