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Humble Pie sold to real estate developers

12-17-2018NewsA. J. Mesalic — Restaurant Hospitality

Humble Pie — a nine-restaurant Arizona-based pizza chain known for its wood-fired pies and specialty sausage pizza — has been sold to Cornwell Development Partners of Scottdale, Arizona, officials said Friday.

Terms of the deal, which was finalized on Dec. 4, were not disclosed. The deal was facilitated by Phoenix-based advisory company, Reconstruction Partners.

Humble Pie joins a diverse portfolio of neighborhood commercial real estate developments owned by Cornwell. Reconstruction Partners’ Wallace Hite said that Humble Pie’s new owners have a “fairly strong growth plan” in place for the pizza chain.

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