Prandium Sells Retail Buildings For $3.3 Mil

ANAHEIM, CA-Prandium Inc., the owner of national Koo Koo Roo and Chi-Chi’s restaurant chains, has sold two Anaheim retail buildings in a transaction valued at $3.3 million.

The two freestanding buildings stand at 1751 S. State College. Encompassing 7,000 sf each, they are occupied by El Torito and Charlie Brown’s.

Blake Woodward of CB Richard Ellis’ Anaheim office acted on behalf of the buyer, Roger DeYoung Construction Co. Prandium was represented by Grubb & Ellis.

Financially failing Prandium has implemented various cost-cutting measures in recent months, including the elimination of 40 jobs at its Irvine headquarters and Chi Chi’s subsidiary office this past summer. In October, Prandium agreed to sell the stock of The Hamlet Group Inc., with its 14 Hamburger Hamlet restaurants, to Othello Holding Corp. The proceeds from the $16-million sale will be used to pay off some of the Irvine-based company’s debts.