Finance Net Leasing
May 26, 2009
Calkain Cos. has been engaged by a multi-unit Sonic restaurant franchisee to consult on the development and exit strategy of the new locations under development in Virginia and Maryland. The franchisee committed to the D.C. metro area and has plans to build 20 locations within the next 12 to 18 months. Site selection has already begun and Calkain is assisting on valuing the properties after development. Calkain president & CEO Jonathan Hipp and assistant vice president Rick Fernandez were engaged to help with potential sale-leasebacks for each of the sites. “The franchisee understands that he needs to build his own locations, but the outflow of cash to do as many projects as he has slated will diminish his overall return... therefore, he may sell and subsequently leaseback some of the locations in order to produce cash for future sites.” Manassas, Va., Gainesville, Va., or Frederick, Md., will most likely be the location of the first Sonic, however a definitive site has yet to be determined.
Calkain Cos. has been engaged by a multi-unit Sonic restaurant franchisee to consult on the development and exit strategy of the new locations under development in Virginia and Maryland. The franchisee committed to the D.C. metro area and has plans to build 20 locations within the next 12 to 18 months. Site selection has already begun and Calkain is assisting on valuing the properties after development. Calkain president & CEO Jonathan Hipp and assistant vice president Rick Fernandez were engaged to help with potential sale-leasebacks for each of the sites. “The franchisee understands that he needs to build his own locations, but the outflow of cash to do as many projects as he has slated will diminish his overall return... therefore, he may sell and subsequently leaseback some of the locations in order to produce cash for future sites.” Manassas, Va., Gainesville, Va., or Frederick, Md., will most likely be the location of the first Sonic, however a definitive site has yet to be determined.
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