SNL Closes Two Hawaiian Bros Transactions in Phoenix, AZ & Midland, TX
Russell Smith Represents Franchisee in All-Cash Acquisition
Secure Net Lease has successfully completed the sale-leaseback of two Hawaiian Bros properties located in Phoenix, Arizona and Midland, Texas. The portfolio was acquired by a California-based buyer in an all-cash transaction, marking a streamlined dual-asset closing for a single buyer.
Russell Smith, who represented the tenant in the sale-leaseback, shared, “I represented the franchisee on these sale-leasebacks to a REIT that was looking for quick, clean transactions with strong operators. Hawaiian Bros has been performing well, and both of these locations fit exactly what the buyer was targeting. Because everyone involved was aligned and motivated, the process moved quickly and efficiently. These were straightforward deals, and we were able to get both properties across the finish line without any complications.”
The Phoenix, Arizona location consists of a newly constructed ±2,750-square-foot freestanding building positioned at a prime hard-corner intersection at 99th Avenue and McDowell Road. The site benefits from strong visibility and direct access to Loop 101 and Interstate 10, two of the most heavily traveled corridors in the metro area. The property sits directly across from Gateway Pavilions Power Center, a dominant regional retail hub anchored by Costco and surrounded by national tenants including Chick-fil-A, McDonald’s, and Raising Cane’s. The surrounding area continues to experience rapid residential and industrial growth, with major employers such as Amazon, UPS, and FedEx located nearby.
The Midland, Texas location features a ±3,924-square-foot building situated along W. Loop 250, one of the city’s primary commercial corridors. The site benefits from high traffic counts and is positioned across from Midland Park Mall, which is anchored by national retailers including Dillard’s and JCPenney. Midland College and Midland International Air & Space Port are located nearby, contributing to consistent consumer traffic and economic stability. The broader Midland market remains supported by energy, healthcare, and education sectors, reinforcing long-term fundamentals for retail operators.
The buyer was seeking quality quick-service restaurant assets with strong operators in growing Sunbelt markets, making this two-property portfolio a strategic fit.
Hawaiian Bros Island Grill continues to establish itself as one of the fastest-growing quick-service restaurant concepts in the country. Known for its island-inspired menu and streamlined drive-thru focused format, the brand has expanded rapidly across multiple states. With strong unit economics, growing brand recognition, and an experienced franchisee base, Hawaiian Bros has become an increasingly attractive tenant for institutional and private investors alike.
About Secure Net Lease
Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.
