Newport Beach, Calif. (February 5, 2019) – SRS Real Estate Partners’ National Net Lease Group and National Franchise Sales have announced they have completed the $20.85 million portfolio sale of nine Burger King restaurants in the states of Louisiana and Mississippi. The sale includes the business for all nine locations as well as the real estate for eight of the properties.
SRS’ National Net Lease Group First Vice Presidents Dale Robbins and Travis Fidel, in conjunction with National Franchise Sales’ Managing Director Michael Deegan, put together the deal between Mississippi-based Dunaway Food Service selling to Cambridge Franchise Holdings.
“This was one of the most competitive real estate bids I’ve experienced in the franchise M&A space,” said Robbins. “Dunaway Food Service is a legacy franchisee who built a portfolio with excellent fundamentals, deep roots within the community, and strong cash flow. Healthy restaurant sales translate to value in real estate, and that was the key to the pricing here. Investors crave healthy and transparent deals, resistant to online competition, with compelling history. This deal certainly had all of those variables.”
Each of the properties feature strong real estate fundamentals with the majority of them located as outparcels to or near big box retail brands along major retail thoroughfares with prime visibility increasing crossover consumer traffic.
SRS’ National Net Lease Group successfully completed more than 270 sales in 2017; in 2018, the group executed more than 300 transactions across more than 35 states nationwide, and has over $1 billion in assets currently listed for sale.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.
SRS’ National Net Lease Group is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2017, the group completed more than 270 sales across more than 30 states. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsnnlg.com.