Premises: 3829 SF
Renewal Options: (5) x 5 Year
Lease Expiration: 2021
Lease Type: Absolute NNN
Rental Increases: 10% at Options
Kentucky Fried Chicken (KFC) is a fast food restaurant chain founded in 1930 that specializes in fried chicken and is headquartered in Louisville, Kentucky, United States. It is the world’s second largest restaurant chain (as measured by sales) after McDonald’s, with almost 20,000 locations globally in 123 countries and territories as of December 2015. The company is a subsidiary of Yum! Brands, a restaurant company that also owns the Pizza Hut and Taco Bell chains. KFC is thriving with a reported $16 Billion in worldwide sales in 2015.
Paris & Potter Management Corporation was founded by Steve Paris and Ralph M. Potter in 1969. Steve Paris was the first KFC franchisee in the state of North Carolina. Today, Paris & Potter and its affiliated companies, run 27 KFC restaurants and 1 KFC/Taco Bell combo restaurant in North and South Carolina. The company’s annual revenue is estimated to be $31 million in 2016. The core cities that comprise the Paris & Potter territory are Fayetteville, NC, Myrtle Beach, SC and New Bern, NC and the surrounding small towns. All Paris & Potter locations are up to date with KFC building image and equipment standards. The company is a premier operator in the Southeast division and has won numerous awards over the past 40 years.