TUCSON, ARIZONA – HZ Props RE, Ltd. of Sugar Land, Texas bought .61 acres at the northeast corner of Speedway and Stone in central Tucson for $800,000 ($30 PSF) for a built-to-suit Popeyes Louisiana Kitchen restaurant.
The buyer plans to construct an approximately 3,000-square-foot Popeyes on the site. This will be the fifth restaurant for the chain in metro Tucson
Burger King and Tim Hortons’ parent company Restaurant Brands International (RBI) acquired Popeyes earlier this year for $1.8 billion. The Popeyes Louisiana Kitchen acquisition added 2,600 outlets to its portfolio which already included Taco Bell, Pizza Hut and KFC with more than 40,000 stores worldwide.
Popeyes was growing like gangbusters before the acquisition by RBI and are now experiencing international growth as well.
Rob Tomlinson of Cushman & Wakefield | Picor in Tucson represented the seller, Speedway Stone Associated of Tucson (Evan Wallach, manager).
Dave Cheatham and Darren Pitts with Velocity Retail Group of Phoenix represented the developer, HZ Props RE.
For additional information, Tomlinson should be reached at 520.546.2757; Cheatham and Pitts can be contacted at 602.682.6050.
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