BURGER KING | $2,016,231 | 7.73% CAP
The Deltondo Group and Marcus & Millichap are pleased to present for sale Burger King a single-tenant net-leased property located at 11740 South Route 59, Chicago (Plainfield), Illinois 60585.
The subject property is comprised of 3,101 square feet and was built in 2008. The building sits on a moderate 35,283 square foot lot with frontage on South Route 59 that oversees 33,000+ Vehicles Per Day.
Burger King is operated by Tri City Foods, Inc. and is backed by a 250+ Unit guaranty. Burger King has operated at this site since 2008 and has 8 years remaining on its initial term with One, 10-year option to extend the term. The current lease calls for 1.5% increases annually including the One, 10-year option.
Founded in 2003, Tri City Foods operates over 250 restaurants located in eight Midwestern states. Historically, they have grown through a combination of new restaurant development and strategic acquisitions to become the second-largest Burger King franchisee with annual revenues exceeding $420 million. Tri City Foods, Inc. is majority-owned by GSO Capital Partners, LP, a New York based investment group, and Todd Bartmess Tri City Foods, Inc.’s President and Chief Executive Officer.
Tri City Foods, Inc. has a proven record of acquiring distressed, underperforming restaurants, and turning them into well run profitable restaurants. This is accomplished through facility upgrades, the implementation and maintenance of a rigorous set of operating controls, the establishment of a culture of ethics and accountability along with focused training to ensure food safety and quality, exceptional service, and overall speed of service.