Tuesday, May 2, 2017

You Could Own Chris' Pizza at Toco Hills

Longstanding Toco Hills tenant up for sale

Chris' Pizza, a popular Toco Hills restaurant since 1983, has put itself up for sale.  The family owned eatery specializes in Greek fare such as gyros, pizza and souvlaki.   

The approximately 4,000 square foot restaurant is located in a portion of the shopping center purchased by Columbia, South Carolina based Edens in 2015.  Since the purchase, a number of longstanding and popular Toco Hills tenants have either not been offered lease renewals or been forced out in other ways.

Many readers feared that Chris' would be the next to close, especially in light of the recent addition of a new pizza joint in the center, The Local Pizzaiolo.  Surprisingly, the sales listing by the Atlanta real estate firm The Shumacher Group indicates that the owners "have a brand new five year lease but Landlord but will extend to ten year."  Monthly rent is reportedly $7,941.02, all in.  

Husband and wife Francis & Teresa Indianto own the restaurant and have decided to retire.  The listing indicates the restaurant is still profitable  with the owners each working about 35 hours a week in the restaurant.  

The restaurant was last renovated a few years ago and is being sold "as is." The owners, and reportedly the landlord too, would prefer the restaurant continue as Chris' but a conversion to another concept not present or upcoming in the center is possible too.  

"Chris' Pizza is priced at $225,000 with up to 75% generous owner financing based on offer and financial strength and experience of [prospective] buyer."

Are you surprised Chris' Pizza is for sale?  Would you prefer Chris' Pizza continue as is or be converted to another concept?  What is your favorite restaurant in the Toco Hills area?

Please share your thoughts below.  

3 comments:

Anonymous said...

I know a few successful restaurant owners and they work 35 hours a week by Wednesday. Nobody is going to care about your business like you will. So you'd better be there. All. The. Time.

Disneypal said...

I love Chris' Pizza - truly one of my favorites! I am so sad to see the owners selling it. I can't say I am surprised what with all the changes in rent hikes in Toco Hills but it truly is sad. I hope that someone does buy it and keep it pretty much the same.

Phil C said...

We have lived in the area for 30+ years and the Indianto's made a huge inprovement when they bought to restaurant: the food, the decor, the service, everything. The "old" Chris's had gone downhill for several years. We go there regualarly and will greatly miss them and their staff, who are always so friendly and worked so hard. I agree with previous comment; 35 hrs a day is more like it.