Northstar Commercial Partners announced the sale of a pad site located on its Colfax and Sable development located in Aurora, CO. The 1.03 acre plot was sold to Popeyes last week.
“This is an excellent location with great visibility and accessibility,” said Brian Watson, Founder & CEO of Northstar. “We are pleased with this sale to Popeyes and hope that it will be a successful addition to their franchise.”
Popeyes has been expanding steadily since being acquired by Restaurant Brands International in 2017, and this will mark their 38thColorado location. For Northstar, the sale helps bring a recognized brand to their Colfax and Sable project which broke ground in 2018 as part of a multi-use development, expanding to over 25 acres.
“This property is ideally located for a restaurant of this nature,” said Brian Dietz, Director of Development at Northstar Commercial Partners. “Popeyes is a nationally-recognized brand, and to have them open a restaurant on one of our sites, is a major accomplishment.”
Brian Watson concluded: “As always, I’m very proud of the Northstar team for their handling and execution of this sale, and look forward to working with additional tenants and investors who may be interested in our remaining sites.”
Northstar specializes in buying vacant, distressed and value-add assets throughout the United States, in order to help stabilize properties, and create jobs and opportunities in local communities. Since Watson founded the company in 2000, Northstar has closed more than 140 deals, and currently has 45 retail, office, industrial/warehouse, medical, senior care, data center facilities in 15 states under its investment, development, and management. The portfolio exceeds $1.4 billion of market value.