Thai Singha paid locally based Saigon Wok LLC $148,000 or $92.50 per sf for the 1,600-sf, two-year-old restaurant in one of metro Orlando's booming submarkets. The buyer owns and operates three Thai Singha restaurants in Philadelphia and is renaming the 50-seat Orlando location as a fourth Thai Singha location.
James K. Densmore, vice president, commercial real estate division, Signature Realty & Development Col., Orlando, found the property for Thai Singha and handled both sides of the transaction.
"The buyer wants to expand its restaurant theme into the Central Florida market," Densmore tells GlobeSt.com. "This was a win-win situation for both the seller and buyer. The seller had personal issues that necessitated a sale and the buyer wanted an opportunity to introduce its popular brand in a growing, vibrant area."
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