Marcus & Millichap’s Doug Mandel and Tyler Kuhlman had the exclusive listing to market the portfolio on behalf of the seller and procured the buyer, a Florida-based private investor.
Led by CEO Greg George and former Albertsons CEO Chairman Larry Johnston, The Peach Cobbler Factory is currently expanding in 19 states and will have 50 locations opened by 2023. The company has franchise commitments for an additional 200 locations and have recently moved its corporate headquarters to South Florida.
Jonathan De La Rosa and Matthew Albregts, investment specialists in Marcus & Millichap’s Miami office, represented the buyer, Westar at Palm Plaza, a limited liability company.
City of Lauderhill commissioners have taken the first step toward getting the project built by approving a special exception application which will allow for the development of residential units on the property.
The operator has occupied the property for 38 years and has 8+ years remaining on the lease with an annual 2% rent increase.
Seasoned real estate veteran Scott Sherman has officially launched Torose Equities, a Miami-based real estate investment firm with a value-add urban retail, office and mixed-use strategy targeting the Southeastern United States.
Osborne has represented The Strachman Family as trust advisor over the last 20+ years and, in the last 5 years, helped in repositioning its portfolio of management-intense multi-tenant retail properties. The family is repositioning its portfolio for the future.
Having opened three new locations earlier this year, the fitness innovator plans to occupy its new space by November of this year and add another 5 locations within the next 12 months.
Osborne believes strongly that any automotive property in a prime location with legal conforming zoning and an active dealer and repair license will only increase in long term value. He has multiple clients that are always looking for automotive related properties in prime location in the tri-county area.
Marcus & Millichap’s First Vice President Investments Ryan Shaw, along with Quinn Sousa, had the exclusive listing to bring the generational assets to market for the first time.