Walnut Street Capital buys 27-unit Saxbys Coffee

PHILADELPHIA Walnut Street Capital, a private real estate development and investment company based here, has acquired Saxbys Coffee, a 27-unit gourmet coffeehouse chain based in Atlanta.

Terms of the deal were not disclosed. Saxbys officials said, however, that they were relocating their corporate headquarters to the Curtis Center in Philadelphia, one of Walnut Street Capital’s signature properties.

Nick Bayer will remain president and chief executive of the Saxbys chain, which was founded in 2005 and currently operates in Pennsylvania, New York, Georgia, Nevada and Tennessee. Saxbys said it plans to open 40 more locations within the next six months.