Marcus & Millichap Real Estate Investment Services associateCharles M. Lucenay says the Glendale, CA seller owns 54 Burger Kinglocations throughout Texas and California. The seller has also beena Burger King franchisee for close to four decades.
"They like to own, whenever possible. In this case, they'llstill own and operate the restaurants, they're just selling theland and the buildings," says Lucenay, who has the portfoliomarketing assignment with Marcus & Millichap associate EdwardA. Benton. Both brokers are with the company's Houston office.
Benton tells GlobeSt.com the portfolio is up for sale so theowners can tap into its equity in its first ever sale-leasebackmove. "There are some concepts Burger King is going to try inSouthern California, and the franchisee wants to investigate theseconcepts to promote some growth out there," Benton adds.
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