News

Upper Midwest Burger King locations on the market

January 14, 2014

Colliers International and Marshall Morgan have teamed up to market a 14-store Burger King portfolio valued at $19.2 million. The restaurants have been in continuous operation for more than 20 years throughout North Dakota and Minnesota, according to a news release.

Colliers International has been selected to market both the chain of restaurants and the real estate upon which they are located. 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 EVP 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 include 11 fee-simple and three leased sites," Bakke said in the release. "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.

"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 said.

Quraishi added that Burger King's global turnaround plan, including restaurant remodels and new menu items, makes the investment package an "attractive and rare opportunity."

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