Michael DeMasi Reporter-Albany Business Review Jan 21, 2015, 2:58pm EST UPDATED: Jan 21, 2015, 3:06pm EST
Fast Eats Realty of Latham LLC paid $1.49 million for the property at 701 Troy-Schenectady Road, according to a deed filed Jan. 15 in the Albany County clerk’s office.
A former King’s Buffet is on the parcel on the busy corner of Troy-Schenectady Road and Sparrowbush Road.
The sale was first reported by The Times Union.
SONIC Drive-in has said it would open its first Albany location in Latham, but has thus far not disclosed the address. With 3,500 locations, it’s the largest drive-in restaurant chain in the nation.
The Oklahoma City-based chain previously identified Fast Eats LLC as the company that signed a franchise agreement to open eight restaurants in the Albany area.
Fast Eats LLC and Fast Eats Realty of Latham Inc. were both registered with the Department of State by the same Saratoga Springs law firm, Anderson Byrne LLC.
SONIC representatives sought a zoning verification from the town of Colonie for the restaurant and were told the use is allowed.
Town officials had honored SONIC’s request to not release the address until the company was ready to make the announcement.
Given the public filing about the sale of the property, Joe LaCivita, commissioner of planning and economic development, confirmed the site will be home to SONIC.
“That’s where they’re going,” LaCivita said.