Potential new opportunities in California encouraged a veteran restaurant franchisee to put its seven-property Burger King portfolio on the market. The portfolio is valued north of $10 million and consists of four restaurants in Houston and one each in Conroe, Porter and Livingston, TX.
Marcus & Millichap Real Estate Investment Services associate Charles M. Lucenay says the Glendale, CA seller owns 54 Burger King locations throughout Texas and California. The seller has also been a Burger King franchisee for close to four decades.
“They like to own, whenever possible. In this case, they’ll still own and operate the restaurants, they’re just selling the land and the buildings,” says Lucenay, who has the portfolio marketing assignment with Marcus & Millichap associate Edward A. Benton. Both brokers are with the company’s Houston office.
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