BELLEVUE, Washington – The Benaroya Company announced today that Taco Bell Corp, a subsidiary of Yum! Brands, Inc (NYSE: YUM) – the nation’s leading Mexican-inspired quick service restaurant brand, has acquired a 31,000 SF site at the corner of Benaroya’s 400 East Meridian Milton retail property to build a new 2,150 sf restaurant.
The new 40 seat restaurant planned will be one of Taco Bell’s newest ‘Explorer’ building design. Unique features include a patio and an overall modern stylistic look. Construction is expected to be completed in the next few weeks with a planned open date of December 4th, 2017. Taco Bell expects to hire 35 – 40 employees for the new restaurant in fast growing Milton, which was selected because it has a great customer base for the company.
“We are thrilled to have had the opportunity to work with Taco Bell with the acquisition of our well-located site for their new restaurant.” said Larry Benaroya. “Taco Bell’s newest building design will fit very well in Milton and we’re excited for it to open this Fall.”
Rune Harkestad of Kidder Mathews represented Taco Bell and Arvin Vander Veen of Colliers represented The Benaroya Company in partnership with Real Property Investors in the transaction.
About The Benaroya Company
Established in 1956, The Benaroya Company (www.benaroya.com) is a leading full-service commercial real estate company based in Bellevue, WA active in acquiring, developing and managing superior office, data center, retail, industrial and medical properties in prime locations throughout the Pacific Northwest. The Company’s current focus is build-to-suits, data centers and short term financing.
About Real Property Investors, LLC
Real Property Investors, LLC was founded in 1986 by Mike McKernan in Seattle to acquire, lease and rehabilitate commercial properties in the Pacific Northwest. Since its inception, Real Property Investors has completed over $500 million in transactions related to retail, data center, high-tech, office, and industrial projects.