Pizza Hut restaurants sold for $59 million

August 26th, 2006

“Realty Income Corporation (Realty Income), today announced that it has entered into an agreement to acquire a portfolio of 89 Pizza Hut properties for $59 million from NPC International, Inc. The Company will acquire 89 existing stores subject to long-term, triple-net lease agreements. The restaurants have, on average, approximately 3,000 leasable square feet situated on an average lot size of approximately 37,000 square feet with an average purchase price for each property of approximately $663,000…” (Read full article here)

Entry Filed under: World & Business