New York City — Steak n Shake Inc. is bringing to market 15 restaurants the company closed during the last 12 months. Keen-Summit Capital Partners LLC and NAI Global have been retained to run a sale process of the portfolio with a bid deadline of August 31 and auction date of September 4. It is anticipated additional properties will be sold by Keen-Summit Capital Partners through an auction during September.
“Real estate investors and restaurants looking to expand their portfolio are in a position to take advantage of this opportunity, whether they decide to take the entire lot of locations, or explore individual or regional purchases,” says Harold Bordwin, principal and managing director at Keen-Summit Capital Partners LLC. “Many of these locations are virtually turn-key with much of the restaurant equipment available within the building.”
The locations the Keen-Summit team will be bringing to market include locations in Alabama, Florida, Illinois, Indiana, Iowa, Michigan, Missouri, Ohio, Pennsylvania and Texas, and range between 3,734 and 7,041 square feet.
The bid procedures and full offering details are available at www.steaknshakepropertyauction.com.
Keen-Summit Capital Partners LLC is a real estate brokerage, workout and investment banking firm specializing in special situations, restructurings, bankruptcies and receiverships. For more information, visit www.keen-summit.com.
NAI Global is a leading global commercial real estate brokerage firm with more than 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific. For more information, visit www.naiglobal.com.
SOURCE: Keen-Summit Capital Partners