Which new fast-casual chain will be the next Chipotle? This a question many investors and landlords wonder and ask. Competition is fierce for these chains across the country. The demand for a small footprint in a premium location is also high. A surge of new fast-casual restaurants has flooded the market in recent years, but not all of them have succeeded.
In the last 10 years many chefs started moving away from traditional sit-down restaurants to fast-casual restaurants where they can do a higher volume, and perhaps make bigger profits in smaller spaces. That’s the theory anyway.
Herndon, VA – Rick Fernandez, Senior Managing Director of Calkain Companies, a national net lease real estate brokerage firm, recently brokered the sale of NNN Arby’s in South Hill, Virginia and Wake Forest, North Carolina to a publicly traded REIT.
Fernandez represented the seller in this off market transaction providing lease analysis, site review, and transaction support to guide the deal to closing.
The combination of solid, well positioned real estate within a vibrant retail mix and a strong Arby’s franchise operation were all key factors in the buyer’s decision to acquire the property,” said Fernandez.
Tampa, FL – Calkain Companies, America’s Net Lease Company, recently sold two additional PDQ restaurants in Florida. The properties, located at 5164 S. Tamiami Trail in Sarasota and 4601 Park Blvd in Pinellas Park, a St. Petersburg, FL suburb, closed on May 27, 2016, bringing to five the number of properties occupied by PDQ which Calkain has sold or put under agreement in the past six months.
Doug Aronson, Director, along with Patrick Nutt, Managing Partner, both out of Calkain’s South Florida office represented the Seller.
While PDQ is a growing name in the fast casual industry, their popularity with