A advantage keep-gasoline station in Ahwatukee that bought in May well for $1.8 million has landed in the palms of a huge cafe conglomerate for $1.05 million.
Scottsdale-based mostly Unified CRE Partners this thirty day period offered the site on the southeast corner of 48th Avenue and Chandler Boulevard to the Dhanani Group of Houston Texas much less than 5 weeks following purchasing it from a Texas girl, in accordance to facts gathered by the true estate tracker vizzda.com.
The Dhanani Group is viewed as a person of the world’s largest cafe brings together with hundreds of franchises for Burger King, Popeyes Fried Hen and the la Madeleine Baker and Café concepts.
The retailer and gas pumps at 48th and Chandler have been erected in 1999 and go over 3,182 sq. feet of the 1.15-acre web page. The sale selling price equaled $329.98 a sq. foot
Starting up in the fuel and comfort store organization in 1976, the Dhanani Team entered the restaurant industry in 1994 by obtaining Houston’s initial Burger King cafe.
Due to the fact then, it has become 1 of the largest quick provider restaurant franchises in the country as entrepreneurs of Burger King and Popeyes. It also has been escalating a casual high-quality-dining brand name with the la Madeleine French Bakery & Café chain, which has two outlets in central Phoenix and a further at Chandler Fashion Center.
The Dhanani Group at the moment possess and operates 275 restaurants through Minnesota, Illinois and Nebraska on your own as effectively as 144 across Texas, according to the company’s site.
“Today, we are the world’s biggest QSR franchisee for Popeyes and have much more than 150 places to eat in the United States,” it provides.
The firm says its Madeleine notion “gives us successful exposure in the informal and fantastic eating restaurant sector by celebrating the heritage and high-quality of French delicacies.” It has 41 Madeleine spots all over Texas, Louisiana, and Oklahoma.
In accordance to the Houston Chronicle, Shoukat Dhanani, CEO of the Dhanani Group, owns 1,100 dining places, 125 ease suppliers, two multifamily developments and a wholesale fuel distributor. The business generates far more than $2 billion in annual earnings.
It rejects the description of itself as a fast food stuff restaurant, preferring the term QSR, or swift company cafe business.
“We really don’t use that term for a couple of explanations,” it suggests. “First, ‘fast food’ has a detrimental connotation to some persons and we do not consider negatively about our franchises. 2nd, ‘fast food’ doesn’t fairly capture all the different forms of swift support restaurant franchises that we have and work.”
Noting a QSR franchise operator contracts with a restaurant organization like Burger King to provide that company’s meals products and at some point makes use of that company’s brand, the Dhanani Group offers that it “is one of the most significant and most productive QSR franchise owners in the earth.”
“We personal and operate hundreds of QSR franchises across the United States. Our initially franchise was a co-branded Burger King restaurant in Houston, Texas that we acquired in 1994. We have not stopped escalating considering the fact that. The motive why is uncomplicated: Everybody requirements to try to eat, so there is a sector for QSR franchises.”
It did not return a simply call trying to get comment on its land invest in in Ahwatukee.