July 6, 2018
Windsor Locks CT…Ralph Calabrese and Tony Valenti of the R. Calabrese Agency, LLC announced the sale of a recently opened Popeye’s Louisiana Kitchen located at 70 Ella Grasso Turnpike in Windsor Locks, CT.
This newly constructed 3,000 square foot restaurant officially opened on July 6, 2018. The seller was Westcorp LLC and the buyer was 70 Ella Grasso, LLC, and the R. Calabrese Agency was the only broker involved in the transaction. The investment property sold for $1,750,000, a 5.71% cap rate.
Additionally, The R. Calabrese agency recently executed a build-to-suit long term lease for another Popeyes Louisiana Kitchen located on West Street, Southington, CT. The Calabrese Agency is currently representing the owners of the West Street retail/office plaza located adjacent to this Popeyes restaurant at 1095 West Street in leasing of the remaining 9,300 /- square feet as well as a pad site that can accommodate a 3,000 /- square foot building with drive-thru.