Pollo Loco Inks Deal With Real Estate Firm
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El Pollo Loco, which recently announced a major expansion, said Tuesday that it has signed an Atlanta-based company to manage its real estate.
The agreement with real estate manager Service Resources Inc. will allow the Irvine-based chain to concentrate on its core restaurant business while moving forward with its expansion plans, Vice President of development Brian Berkhausen said in a prepared statement.
Last month, El Pollo Loco said it would spend about $130 million to open 100 new restaurants over the next five years in California, Texas, Nevada and Arizona. About half the new eateries will be franchised and the other half will be company-owned.
The agreement with Service Resources will include all company-owned restaurants.
El Pollo Loco was sold in December by Advantica Restaurant Group to American Securities Capital Partners LP, a New York investment group.
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