Cape Chinese restaurant purchases old Ponderosa property in Perryville

A Cape Girardeau restaurant seeking to expand has purchased the building that previously housed a Ponderosa Steakhouse franchise in Perryville, Missouri, Lorimont Place Ltd. commercial broker Tom Kelsey said Monday in a news release.

Xiu Kai Zhang and his wife, Huli Hua Lin, of Kaizhi Enterprises LLC, purchased the 7,900-square-foot building at 1301 S. Perryville Blvd., near Interstate 55 exit 129.

Kelsey, who brokered the transaction, said the 1.5-acre lot sits in a high-traffic and high-visibility location.

Kaizhi Enterprises also owns China Wok near the corner of West End Boulevard and Broadway in Cape Girardeau, which will remain open, Kelsey said.

The new owners plan to convert the former steakhouse into “a Chinese buffet operation featuring a hibachi grill and other amenities,” Kelsey said.

“No sales price was disclosed, but the Lorimont website lists the property at $869,900,” Kelsey said.

The Ponderosa Steakhouse franchise, operated by SBR Steakhouse LLC, closed in September after operating since 1999.

The previous owners, Kelsey said, were interested in retiring and decided to list the property for sale earlier this year.

Reached by phone Monday, Lin said they expect to have the Perryville restaurant open in two to three months.

tgraef@semissourian.com

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