Thomas & King, the well-known franchiser, owns 25 Applebee's in Arizona, Tom Woods of Colliers International's Phoenix office, tells GlobeSt.com. Woods represented the buyer in the pad site sale while seller, Transwestern-Chandler LLC, used Zach Pace of Phoenix Commercial Advisors.
The Applebee's construction is the second pad site to be developed at the Foothills Corporate Park, a project of Chicago-based Transwestern Investment Co. LLC. In place is a service station and coming soon is a bank, says Woods. There are just a handful of retail sites available at the project, which fronts Chandler Boulevard. The Foothills Corporate Park, in the development stages, will consist of four buildings totaling 87,772 sf upon completion.
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