Florida buyers purchase actual property at 11 Massachusetts Pleasant’s eating places for $17 million

Orion Actual Property Group, a Miami firm with a portfolio of greater than $800 million, bought 11 Pleasant’s places throughout Massachusetts over the previous few weeks for a complete of $17 million.



Fridley's restaurants have been sold again to another investment fund. This location on Riverdale Street in West Springfield reopened after the COVID shutdown(Don


© Don Treeger | dtreeger/@repub.com
Fridley’s eating places have been offered once more to a different funding fund. This location on Riverdale Avenue in West Springfield reopened after the COVID shutdown(Don

It’s only a landlord change for these places, stated Avery Barzizza, a spokeswoman for Pleasant’s Eating places Co. She stated she doesn’t anticipate any adjustments.

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Orion didn’t return calls this week for remark.

Possession of the actual property has handed backwards and forwards over the previous few many years because the Pleasant’s chain shrank and administration handed from native fingers.

Pleasant’s, then referred to as Pleasant Ice Cream Corp., offered in 2007 its headquarters campus in Wilbraham and 160 of its eating places to Realty Revenue Corp. That sale adopted a protracted authorized battle between co-founder S. Prestley Blake and Don Smith and others within the Pleasant’s administration group and the eventual sale of the corporate to a Florida hedge fund, Solar Capital.

In 2018, following the primary of two Pleasant’s bankruptcies, Solar Capital created a shell firm referred to as SIC Property and acquired Pleasant’s actual property again from Realty Revenue Corp. Again then it was a dozen properties for $12.2 million.

It’s SIC that offered the 11 places to Orion over the previous few weeks. The record, culled from registry of deeds information throughout the state, consists of:

  • Swansea: 748 Grand Military of the Republic Freeway, $5.6 million
  • Pittsfield: 841 Dalton Ave., $3.34 million
  • Greenfield: 200 Mohawk Path, $2.89 million
  • Chicopee: 529 Memorial Drive, $1.3 million
  • Holyoke: 1745 Northampton St., $1.05 million
  • West Springfield: 1094 Riverdale Street, $900,000
  • East Longmeadow: 562 North Principal St., $875,000
  • Palmer: 1519 North Principal St., $775,000
  • Springfield: 1811 Boston Street, $700,000
  • Gardner: 18 Pearson Blvd., $195,000

A Westfield location not on the record closed earlier this month. The land the place it sits, on the Massachusetts Turnpike exit, is held by Satisfaction Shops in a long-term grasp lease from the state. Satisfaction is redeveloping the positioning right into a Satisfaction gasoline station and truck cease fueling location.

Pleasant’s is opening a brand new Westfield location throughout city in a buying plaza on East Principal Avenue. Barzizza stated she expects it to open in December.

Pleasant’s Eating places Co. was acquired in 2020 by Amici Companions Group LLC.

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