CHARLOTTE, NC, (April 25, 2012) – Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced the sale of seven KFC/Taco Bells for Morganton, N.C.-based client Ferrari Investments, LLC. The $7.8 million sale to STORE Capital and OMAA, LLC, included the following locations:
• KFC—Hudson, NC
• KFC/Taco Bell—West Jefferson, NC
• KFC/Taco Bell—Cherryville, NC
• KFC—Marion, NC
• KFC/Taco Bell—Denver, NC
• KFC/Taco Bell—Richfield, NC
• KFC—Lincolnton, NC
“There was a lot of interest in this portfolio of restaurants,” said Sam Young, Vice President and Principal, Cassidy Turley Capital Markets Private Client Group, who handled the sale. “The Carolinas are definitely on the radar screen of national buyers looking for single-tenant investments.”
About Ferrari Investments, LLC
Ferrari Investments is the holding company for the operator of the restaurants Fulenwider Enterprises, a franchisee that operates more than 40 KFC and KFC/Taco Bell combination restaurants in NC and GA.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,500 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals across the globe. Please visit www.cassidyturley.com for more information about Cassidy Turley.