"A landmark Palm Springs restaurant is up for sale, and the buyer won't just be getting a California desert property: They'll be getting the recipes too. Billy Reed's, which opened in 1975, has been listed for $7.5 million as its current owner prepares to retire. When the restaurant debuted at 1800 N. Palm Canyon Drive, it quickly became known for its massive portions of American comfort food, pies baked in-house and homey interior design."
"Whoever buys Billy Reed's next will shepherd a Palm Springs tourism juggernaut. According to its listing with Coldwell Banker Commercial, the restaurant drives over $7 million annually in sales. The listing cites "strong tourism growth" in the future too, with the expansion of the Palm Springs Airport and home sales in Disney's planned community nearby. Coldwell Banker touts the restaurant's "turnkey operation" with "outstanding employees," and a reputation for "massive customer loyalty" in the area."
Billy Reed's in Palm Springs, opened in 1975, is listed for $7.5 million with recipes included as the current owner retires. The restaurant became known for massive portions of American comfort food, pies baked in-house and a homey interior. Ownership has changed several times, including a 2012 repurchase by original owners. The business reportedly generates over $7 million in annual sales and is marketed as a turnkey operation with outstanding employees and strong customer loyalty. The property is just under two acres with a 13,000-square-foot building and a currently unused private dining room that could be repurposed.
Read at SFGATE
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