In addition to essential businesses, quick service restaurants continue to dominate in high-powered MSAs such as Phoenix, especially during the restricted access period of COVID. With that phenomenon in mind, Radar Capital Partners recently provided a $2.3 million construction loan to an Arizona-based real estate group for the development of a Raising Cane’s Chicken Fingers property in Phoenix.
Construction on the 3,550-square-foot project has now commenced and is anticipated to be completed in summer 2021. This represents the second Raising Cane’s project that Radar has financed in the Phoenix market as the tenant continues to expand within the region.
“Quick service restaurants like Raising Cane’s are thriving in high-growth markets like Phoenix as they provide customers with quality food and convenient ways to get it via drive-thrus, delivery, pick-up and app-based ordering,” said Kevin Marusiak, Radar Capital Partners co-founder and managing principal. “In addition to QSRs, other essential businesses such as grocery, medical, dollar and convenience stores are poised to remain the most active for new developments throughout 2021.”
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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