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ERG Property Advisors Announces Burger King Closing - ERG Property Advisors announces the sale of corporate backed Burger King triple net lease for $1,015,000 - ERGPA.com
ERG Property Advisors Announces Burger King Closing

 

NewswireToday - /newswire/ - New York, NY, United States, 2011/08/17 - ERG Property Advisors announces the sale of corporate backed Burger King triple net lease for $1,015,000 - ERGPA.com.

   
 
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ERG Property Advisors is proud to announce the sale of a corporate-backed Burger King, located at 1820 Blankenbaker Parkway in Louisville, KY. ERG was the exclusive broker who represented the seller.

The Burger King triple net lease sold for $1,015, 000, which represents a cap rate of 8.8%. The building is 3,500 square feet and is situated on a 47,045-square-foot lot.

Founded in Florida in 1954, Burger King® has grown to become an internationally recognized brand with 11,220 franchised and company operated restaurants in 60 countries worldwide. The founders’ visionary belief in the guiding principle of offering reasonably priced, quality food, served quickly, in clean surroundings, still stands today. Burger King Corporation demonstrated its innovation again in 1975 when it began to offer drive‐thru service at its restaurants, appealing to increasingly mobile and time conscious consumers.

This Burger King is operated by Carrols Restaurant Group, Inc. Listed on the NASDAQ (TAST), Carrols is a Syracuse, New York-based operator of three fast-food restaurant chains. It is the United States' largest Burger King franchisee, owning and operating about 330 units in a dozen states in the Northeast, Mid-Atlantic, and Midwest.

ERG’s Andrew Greenberg represented the seller. For more information about this property, please contact Andrew Greenberg at (646) 253-0950 or at agreenberg[.]ergpa.com.

About ERG Property Advisors
ERG Property Advisors (ergpa.com) is a full-service commercial brokerage company based in New York City. Its core activities are investment sales, retail leasing, and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles.

 
 
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Written by / Agency / Source: ERG Property Advisors

 
 

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ERG Property Advisors Announces Burger King Closing

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Publisher Contact: Michelle Babinsky - ERGPA.com 
212-807-6640 pr[.]ergpa.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ERG Property Advisors securities in any jurisdiction including any other companies listed or named in this release.

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