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NEWS ARCHIVES : U.S. and World News :
Real Estate
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Press Release:
Thomas J Bradley and Associates to Acquire Approximately $30,000,000 in Restaurants
Thomas J Bradley & Associates owns and operates the BradleyBrokers.com website which generates Illinois' largest, most targeted, web traffic in this brokerage segment. An on-line form (BradleyBrokers.com/announcement.htm) will facilitate prospective sellers. Owners of multiple restaurants may dispose of their restaurant locations in a single transaction. "We are very excited about this expansion. It will be good for metropolitan Chicago," said Tom Bradley. The economic impact of a new restaurant provides jobs and revenue across a wide spectrum of service providers. The benefit to a geographic area runs into the hundreds of millions of dollars in a multiple location deal. According to Bradley, "One transaction which includes between 5-15 restaurants is ideal." As "Nominee," Bradley will be providing both the search and the diligence. "Our purchaser is looking forward to announcing their identity and the expansion plans shortly after the closing is complete," said Bradley. Many factors beyond location will be considered in the acquisition. The purchaser desires restaurant spaces averaging between 2,000-5,000 square feet per location. Restaurants that are operational and have large kitchens with exhaust hoods that measure nine feet and longer will be given particular attention. Also, restaurants with existing liquor licensees will be viewed more favorably. "It does not matter if the sellers lease or own the associated real estate. The current cash-flow is of minor value to the purchaser. The purchaser intends to remodel into a consistent theme," said Bradley. Restaurant chains and conglomerates are more frequently moving towards multiple site purchases in one transaction. Expanding by one site acquisition at a time is streamlined with a bulk purchase. Significant transaction time and money are saved. Thomas J Bradley & Associates provides brokerage service to the tavern, restaurant, and nightclub industries. Three generations of Chicago Commercial REALTORS(R) are in the Bradley family dating back to 1929. The Bradleys have been advocates, patrons, brokers, and supporters of Illinois food and beverage businesses for more than eighty years. Restaurant Broker Contact: Tom Bradley at 773-262-3220 or www.BradleyBrokers.com.
NEWS SOURCE: Thomas J Bradley & Associates
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REFERENCES: Thomas J Bradley and Associates to Acquire Approximately $30,000,000 in Restaurants, Thomas J Bradley & Associates, Illinois food and beverage businesses, Chicago Commercial REALTORS, OLO, press release, Feb 22, 2008. |
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