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Pizza Hut franchise owner, Pizza Hut of Arizona, Inc. (Pat McConaughey, President) bought the building it has occupied since 1994 at 1502 West St. Mary’s Road in Tucson for[mepr-show rules="58038"]$286,400 ($117 PSF) in an all-cash transaction, from Hanna Marital Trust of Irvine, CA, an affiliate of privately-held Hanna Capital Management (Ash Hanna, principal). The property sits on an 18,000 sq. ft. lot, east of St. Mary’s Hospital.
The building was constructed as a 7-Eleven in 1970, and renovated for Pizza Hut in 1994. According to McConaughey, “the decision to buy was not based on current low interest rates, but rather coincided with its lease renewal and the desire to make renovations to the building that were not financially prudent as a tenant.”
Pizza Hut of Arizona operates 16 restaurants in Tucson.
The Pizza Hut franchise first opened in 1959, in Topeka, KS. In 1972, Pizza Hut went public and experienced rapid growth. The company merged with Pepsi in 1977 that bundled all its restaurant holdings and spun them off as Yum! Brands (NYSE:YUM) the parent company of A&W Restaurants, KFC, Long John Silver’s and Taco Bell.
March 1, 2013 – Dunkin Donuts’ franchise owner, RAM Holdings, LLC of Tucson (Walter Thibodeau, manager) bought the retail building at 4676 E Grant Road in Tucson for $610,000 ($297 per sq. ft) from Donald F Averson and Margeret R Arveson Revocable Living Trust of Tucson. The property sits on a 19,375 sq. ft. lot at the southwest corner of Grant and Swan Roads and was constructed in 1979.
Wells Fargo handled the financing for RAM Holdings.
The Dunkin’ Brands (NASDAQ: DNKN) franchise claims almost 120 years of combined franchising experience, with two of the world’s most recognized brands: Dunkin’ Donuts and Baskin-Robbins. Under the Dunkin’ Brands umbrella, both brands share the same vision of conveniently delivering high-quality food and beverages in a welcoming environment, quickly, and at affordable prices.
Dunkin’ Donuts is based in the region of Canton, MA, and was founded in 1950. Dunkin’ Brands achieved a global sales record of $6.58 billion in the year 2012.
There were no brokers involved in either sale.
To reach McConaughey call (520)838-5171 ext. 167. Thibodeau can be contacted at (520) 797-7142. Dunkin’ Brands Corporate Office is at (781) 737-3000. Pizza Hut Corporate can be reached at (800) 948-8488.