Huge U.S. Portfolio Sale Includes 3 Central Florida Eateries

Sep 11, 2013 No Comments by

A mega real estate deal involving 447 restaurant properties throughout the U.S. included three Central Florida sites.

New York-based American Realty Capital Properties Inc.’s related ARC CafeUSA001 LLC spent $3.5 million to buy three properties from Scottsdale, Ariz.-based GE Capital Franchise Finance Corp. on July 31, Orange County records showed. The three properties were:

  • Church’s Chicken, 2,702 square feet on 0.6 acres at 6234 W. Colonial Drive in west Orlando
  • Tommy Addison’s, 4,516 square feet on 1.7 acres at 4120 S. Orange Ave. in southwest Orlando
  • Popeye’s Chicken, 2,242 square feet on 1 acre at 5760 S Orange Blossom Trail in west Orlando.

American Realty Capital Properties spent $774 million to buy the 447 properties mainly used by restaurants from General Electric Co.’s (NYSE: GE) finance arm, according to an earlier report by Bloomberg News. The buildings involved in the sale mostly were leased to national fast-food chains, including Arby’s, Burger King, Taco Bell and Wendy’s, Bloomberg reported.

ARC CafeUSA001 also bought the 7,340-square-foot Great China Super Buffet at 909 W. Vine Street in Kissimmee for $516,315 from CNL APF Partners LP on July 31, Osceola County and state records showed. This sale appears to be unrelated to the portfolio deal.

 

Source:  OBJ

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