In a rare opportunity to obtain a complete 14-property Burger King restaurant portfolio that has been in continuous and successful operation for more than two decades in prime locations throughout North Dakota and Minnesota, Colliers International has been selected to market both the chain of restaurants and the real estate upon which they are located. Value of the restaurants and the land was placed at $19.2 million.
A team of retail investment specialists led by Colliers Senior Vice President Shawn Bakke in Los Angeles is offering the portfolio. Joining Bakke on the listing team from Colliers is Gregory Ching, project coordinator. The portfolio is being co-listed by Executive Vice President Amer Quraishi, of the Marshall Morgan Company, based in Dallas.
“None of the restaurants will be sold individually, but the enterprise and real estate components can be split into separate tranches and include11 fee simple and 3 leased sites,” said Bakke. “We separated the restaurants from the real estate components before determining the value of the total portfolio.”
In North Dakota, eight of the restaurants are located in Fargo, West Fargo, Grand Forks, Hillsboro and Jamestown. In Minnesota, the remaining restaurants are located in Moorehead, Fergus Falls, Park Rapids and East Grand Forks. All include high-visibility sites along well-trafficked surface transportation routes, including Interstate 29 and Interstate 94.
“Not only have these restaurants been successful for some two decades, but the Burger King brand, the prime locations of these restaurants, strong local economies, dense population centers, and consistent high customer counts have made them some of the most successful outlets for the Burger King brand in the upper midwest,” Bakke added.
Added Quraishi of Marshall Morgan, “The fact that Burger King has recently announced a massive global turnaround plan aimed at attracting a much broader customer base with new menu items and an aggressive re-modeling plan, are additional reasons that makes this particular investment package an attractive and rare opportunity that will allow the buyer to be among the first to benefit from the brand’s announced changes.”
Interested investors may contact Bakke or Ching in Colliers’ downtown Los Angeles office, or Quraishi in the Dallas/Fort Worth office of Marshall Morgan.
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