X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-The nation’s largest Applebee’s franchiser is eyeing a first quarter 2002 delivery for a restaurant at the southwest corner of 48th Street and Chandler Boulevard in Phoenix. Second T&K Real Estate LLC of Lexington, KY paid $775,000 for the 50,000-sf pad site at the Foothills Corporate Park.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.