ICRE Investment Team is proud to have exclusively represented the Buyer, 52nd Street, a Joint Venture, in the purchase of a Black Bear Diner located at 1420 Market Place Drive, Great Falls MT 59404. This Retail Commercial Building was an Absolute Net Investment. It was built in 2007 with 7,365 square feet. It Sold for $3,350,000.00 at $454.79 SF on July 3rd, 2019. The Cap Rate was 6.8% with an NOI of $227,812.50.
Black Bear Diner is a fast-growing, community-oriented, family dining concept that offers great food in a fun, bear-themed atmosphere. Born from a desire to bring home-style comfort food classics and personal service back to the dining experience, the brand is strategically growing its national footprint. Black Bear Diner has approximately 124 locations in 12 states, including Arizona, California, Colorado, Idaho, Oregon, Texas, and Washington. In 2017, Nation’s Restaurant News highlighted the brand as a “disruptor” in the family dining market, noting market share gains against numerous legacy brands, while Franchise Times ranked it as #242 on its Next 300 Franchises to Watch in 2017 list.
1420 Market Place Drive Guarabtor: MERIDIAN RESTAURANTS
Meridian Restaurants was founded in 2002 with 14 restaurants. Today, Meridian now has 127 restaurants consisting of four top-tier brands across eleven states: Burger King, El Pollo Loco, Chili’s, and Black Bear Diner. The tenant; NDM Restaurants, Limited Company; is a wholly owned subsidiary of Meridian Restaurants Unlimited, Limited Company.
About ICRE Investment Team
ICRE Investment Team is a full-service commercial real estate advisory team at Commercial Properties, Inc. (CPI) headquartered in Scottsdale Arizona specializing in investments in the office, retail, medical, and industrial sectors. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals and our highly personal approach to client service, ICRE Investment Team is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long-term growth and success.
Learn more about ICRE Investment Team online at www.investingincre.com.