Hyatt Commercial Facilitates Acquisition of Multiple Popeye’s Locations

A major business sale and leaseback transaction involving 10 Popeye’s Restaurants, including three ground leased properties, has been successfully completed.

The innovative structuring of this transaction saw the businesses being sold and then 7 units leased back to the buyers. Charles Bros. Inc. and its associated entities served as the landlord and seller in this transaction, while Parikh Network/PN Restaurant Group were the tenant and buyer. The scale and complexity of this transaction demanded thorough expertise in areas such as pricing, lease rate negotiations, due diligence, and finalizing the closing processes.

Parikh Network LLC, operating as PN Restaurant Group, is a formidable player in the U.S. restaurant franchise industry. Based in New Jersey, the group currently operates 102 Popeyes restaurants nationwide. This recent acquisition furthers their expansion and dominance in the fast-food sector. PN Restaurant Group is recognized for its strategic growth, focusing on acquisitions of franchised restaurants and real estate investments, including single-use tenants and strip centers.

William Steffey, CRE, CCIM, Senior VP at Hyatt Commercial played a crucial role in overseeing this transaction. His responsibilities included managing the initial sales package, marketing the properties effectively to attract competitive bids, and handling the transaction’s nuanced details.

This transaction emphasizes the need for specialized expertise and careful attention in commercial real estate, showcasing the industry’s proficiency in strategic planning and negotiation. The deal’s completion contributes to evolving market standards, demonstrating the importance of professional skill in managing complex transactions for the benefit of all involved parties.

For more information or media inquiries, please contact Gabrielle Titow, Director of Agent Resources at or directly at 410-260-6530.

About Hyatt Commercial:

Hyatt Commercial, headquartered in Annapolis, Maryland, is a leader in the industry representing local, regional, and national clients in the area. With over 61 years of experience, Hyatt Commercial offers comprehensive real estate services through its subsidiary companies, including property management, commercial construction, brokerage, and land development management residential services. Committed to excellence and driven by a passion for real estate, Hyatt Commercial continues to be a trusted partner in shaping the region’s real estate landscape. Visit for more information.