As appeared in bizjournals.com/birmingham | May 21, 2020
By Hanno van der Bijl – Real Estate Reporter, Birmingham Business Journal
May 21, 2020, 8:47 am CDT Updated May 22, 2020, 11:18 am CDT
A local commercial real estate firm and Taco Bell franchisee continue to move forward with their expansion plans.
Capital Growth Partners and Tacala Cos. have partnered on more than 45 projects across six states with more in the works for the Birmingham metro and elsewhere.
“We have an excellent long-term relationship with the Taco Bell franchisee;’ said Robert Buchalter of Capital Growth.
The latest project is a new Taco Bell location planned for 311 and 319 Cane Creek Road in Warrior, which a Capital Growth affiliate recently acquired in a saleleaseback transaction for more than $1.41 million, according to Jefferson County public records. IberiaBank provided $2.034 million in financing for the deal that closed May 8.
Bryan Holt and Blake Thomas of Southpace Properties represent Tacala in Alabama.
Capital Growth has been involved in similar Taco Bell projects in Fultondale, Pinson, Montevallo, Tattersall Park and Columbiana. And Buchalter said there’s more in the pipeline over the next 12 to 18 months.
“We have several projects in the Birmingham metro area as well as around the state of Alabama and in surrounding states;’ he said.
The new locations are valued at between $1 million to $3 million, according to information from Capital Growth.
The projects come at a time when Birmingham’s retail sector has suffered the fallout from Covid-19, but discount retailers and quick-service restaurants have managed to weather the storm, making them an attractive asset class for investors.