PHOENIX, Arizona – Cushman & Wakefield completed the sale of Popeye’s Louisiana Kitchen, the second largest quick serve restaurant chicken concept in the world, on behalf of Sacramento-based SIE, LLC and Ivan & M, LLC. Williams Real Estate Holdings, LLC of Bend, Oregon purchased the property for $1.4 million ($651 PSF).
Chris Hollenbeck of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
The 2,150-square-foot, single-tenant building is 100 percent leased to Popeye’s. Built in 2007, Popeye’s is located on an outer parcel of a retail center anchored by Food City and Family Dollar.
“Popeye's has been a growing brand in Arizona and Z&H Foods, Inc. is an extremely strong franchise group. We were pleased to help our client sell the property to a qualified buyer,” said Chris Hollenbeck.
Popeye’s, located at 6540 W. Thomas Road in Phoenix, is a Z&H Foods, Inc. franchise – currently the largest franchisee in the Popeye’s chain with over 270 locations across Texas, Arizona, Utah, Colorado, Illinois, Missouri and Ohio.