Capital Rivers Commercial
Popeyes Louisiana Kitchen
The Journey Behind the Popeyes Site Development
Capital Rivers identified a prime property as a strategic location ideally suited for a QSR development. Recognizing the potential of this site for a renowned brand like Popeyes Louisiana Kitchen, we undertook the challenge of acquisition despite several hurdles:
- The ownership of the property was fragmented, making streamlined communication difficult.
- The current property holders were elusive, proving a challenge even to establish initial contact.
- Furthermore, these owners demonstrated little motivation to sell, adding another layer of complexity to the negotiation process.
Despite these challenges, our expertise in commercial real estate and commitment to QSR development allowed us to secure the property at a price that ensured the venture remained economically viable.
It was necessary for Capital Rivers to get creative in order to solve this challenge. The solution was to reach out to some of the seasoned brokers in the area that knew the history of the property and had a relationship with the owners. In this case it was Mr. Tom Williams who knew the managing owner of the property which was Albert B. Glickman & Associates who it turned out actually developed the original shopping center in the early 1960’s with K-Mart and Save Mart as the anchor tenants. Mr. Williams was able to open the door and the timing was right because the owners were ready to start discussions of finally selling the property.
- Capital Rivers utilized it’s in depth market knowledge and strategic mapping capabilities to identify the specific target site.
- Capital Rivers then got creative to reach the owner by contacting local folks that had a relationship with the ownership to open the door and start a dialogue. After establishing a level of trust with the owner, Capital Rivers was able to ultimately secure an agreement to acquire the property that allowed for Capital Rivers to secure its necessary entitlements and permits. During this period Capital Rivers also finalized a build to suit lease with Popeyes that included a rare limited Corporate guarantee.
- Capital Rivers was able to get the time necessary from the seller to secure building permits because Capital Rivers continued to keep the seller in the loop as well as provided for some small non-refundable extension deposits. Capital Rivers acquired the property with an equity partner with a construction loan from BAC Community Bank and completed the project on schedule and on budget.
In the competitive arena of commercial real estate and QSR development, delivering results is paramount. Capital Rivers showcased its expertise and dedication in the following ways:
- Our team demonstrated agility and foresight, delivering the building and site to Popeyes Louisiana Kitchen both on schedule and within the set budget, providing them with a turn-key solution.
- Leveraging a blend of creativity and pragmatic strategy, Capital Rivers innovated in its acquisition approach, meticulously value-engineered the project, and adeptly managed the subcontractors. This ensured the project’s timely and budget-conscious completion.
- Additionally, Capital Rivers retained the rights to a prominent freeway pylon sign, further enhancing the location’s visibility. Due to these combined efforts, this particular site proudly stands as one of the top-performing Popeyes locations in the Central Valley.
Our results speak to our commitment to excellence and our ability to navigate the complexities of commercial real estate and QSR development.