MIAMI-Benihana, based in Miami, has reached a contract to sell and lease back 13 restaurant properties. The Japaneses restaurant chain will sell the properties to Cole Real Estate Investments, a Phoenix-based non-traded REIT, for $47.4 million.
Property records showed that Benihana owns eateries at 1665 79th Street Causeway, North Bay Village and at 276 E. Commercial Blvd., Lauderdale-by-the-Sea. These two properties are included in the deal. The chain operates 95 restaurants. For the full story, go to South Florida Business Journal .
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