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Popeyes Moving Headquarters to Miami From Atlanta, Reports Say

Chain Was on Office Growth Spurt Until Last Year, Broker Says
August 6, 2018
A rendering of the building that Popeyes and Burger King will share when the brand moves to Miami, Florida.

After building a base in Atlanta, the Popeyes restaurant chain appears to be moving its headquarters to Miami, according to published reports.

The South Florida Business Journal reported last week that Restaurant Brands International, which owns Popeyes, Tim Hortons and Burger King, will combine operations of the three chains in Miami. Restaurant Brands bought Popeyes for $1.8 billion last year.

The Atlanta Journal-Constitution reported in March that Popeyes employees said the company plans a Miami move and that they expect layoffs in Atlanta this summer. Popeyes reported 30 layoffs in January in the state of Georgia, but it is unclear whether those were headquarters jobs.

Officials with Popeyes, Restaurant Brands of Canada and a Miami affiliate did not return phone calls or emails on Monday.

Burger King has signed a lease for 150,000 square feet at 5707 Blue Lagoon Dr., a building under construction at the Waterford at Blue Lagoon business park in Miami, according to CoStar data. The leasing agent, Patrick M. Duffy of Newmark Knight Frank, did not immediately return a phone call for comment.

In September, Burger King is moving out of 211,829 square feet at 5505 Blue Lagoon Dr., CoStar data shows.

In a quarterly filing with the U.S. Securities & Exchange Commission, Restaurant Brands of Canada discussed relocating some operations but did not offer specifics.

“In connection with the centralization and relocation of our Canadian and U.S. restaurant support centers to new offices in Toronto, Ontario and Miami, Florida, respectively, we incurred certain non-operational expenses [...] totaling $12.4 million during the three and six months ended June 30, 2018,” according to the filing.

The expenses were for duplicate rent, moving costs and “relocation-driven compensation,” the filing said.

Dan Granot, a broker with Joel & Granot Real Estate in Atlanta, brokered Popeyes’ Atlanta deal at 400 Perimeter Center Terrace about seven years ago.

The company started with roughly 55,000 square feet, expanded to 70,000 square feet, and was looking to take even more space until Restaurant Brands announced the acquisition, Granot said.

It was important to Popeyes that the company’s offices reflect the chain’s New Orleans heritage, Granot said.

“They took painstaking care in building their space out,” he said. “Popeyes was all about culture and employee retention.”

Popeyes is not currently listed as a tenant in the building, according to CoStar. Leasing agent Glenn Aspinwall of Jones Lang LaSalle could not be reached immediately for comment.

Restaurant Brands says it exceeds $30 billion in sales from its roughly 24,000 restaurants in more than 100 counties.

Paul Owers, South Florida Market Reporter  CoStar Group   
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