Michelle Napoliis editor of Net Lease forum, from whichthis article is excerpted.

Rocky Mount, NC—Locally based Boddie-Noell EnterprisesInc., the largest franchisee of Hardee's fast-food restaurants,purchased 34 Hardee's locations from the chain's parent companyCKE Restaurants Inc. Boddie-Noell now owns 343 Hardee's infour states. Terms of the sale were not disclosed.

Carpinteria, CA-based CKE announced plans this past spring tosell more than 200 Hardee's in the Midwest and Southeast tofranchisees. So far, it has sold 80 restaurants and securedagreements for the development of 38 new franchise locations aspart of the initiative. It closed the sale of 18 restaurants inIowa and Nebraska in July to a new franchisee, Westar Foods,which also agreed to develop five new locations within the next sixyears. It also sold 18 Atlanta area restaurants this year toBiscuits and Burgers LLC, which plans to build 25 newHardee's within seven years.