Developer Frank Liu sold eight shops and investment group, Pizza Partners, put up the balance. Wyatt Hurt, COO of Marwin Management tells GlobeSt.com that all leases, with 10-year terms, recently were renewed. He says the stores, averaging 4,200 sf, are spread from Conroe to Baytown, with a CiCi's in every quadrant of the city.
Hurt says the transactions were privately negotiated with Marwin, a franchisee now holding 25 CiCi's locations in South Texas, because "they were the only one in the system with enough strength to negotiate for the stores." The price is being kept under wraps. Marwin's CiCi's portfolio now spans 38 locations for the Dallas-based pizza chain, which operates 450 locations in 23 states.
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