MELVILLE, N.Y., Oct. 2, 2020 /PRNewswire/ — A&G Real Estate Partners today announced that it is now marketing leases for 163 recently closed Pizza Hut sites in 26 states in connection with its role as real estate advisor for multi-concept franchisee NPC International, Inc., which is restructuring under Chapter 11. All bids are due by October 23, 2020.
The Melville, N.Y. based firm also continues to advise NPC on optimizing the real estate portfolio for the more than 1,000 of its Pizza Hut and Wendy’s locations that remain in operation.
The locations being offered by A&G average 2,621 square feet and range from 1,000-square-foot takeout and delivery-only units to 5,916-square-foot full-service restaurants. According to A&G Senior Managing Director Joseph McKeska, the majority are freestanding locations on the pads of neighborhood shopping centers and regional open-air centers. The mix is rounded out by freestanding highway sites and in-line locations.
“With attractive rents and more than 80% of the leases offering extended option terms, these sites provide compelling opportunities for established and start-up foodservice and other retail operators seeking to expand in desirable suburban, urban and exurban markets across the U.S.,” said McKeska.
A listing of the individual leases is available at www.agrep.com.
On July 1, 2020, NPC and certain of its affiliates and subsidiaries filed voluntary petitions to restructure under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. Additional information about the Chapter 11 case, including access to Court filings and other documents related to the restructuring process, is available at http://dm.epiq11.com/NPC.
About A&G Real Estate Partners
A&G is a team of seasoned commercial real estate professionals and subject matter experts that delivers strategies designed to yield the highest possible value for clients’ real estate. Key areas of expertise include occupancy cost reductions, lease terminations, dispositions, structured real estate sales, real estate due diligence, valuations, acquisitions, and facilitation of growth opportunities. Utilizing its marketing knowledge, reputation and advanced technology, A&G has advised the nation’s most prominent retailers and corporations in both healthy and distressed situations. The firm’s team has achieved rent-reduction and occupancy-cost savings approaching $6 billion on behalf of clients in every real estate sector, while selling more than $12 billion of non-core properties and leases. Founded in 2012, A&G is headquartered in Melville, N.Y. and also has an office in Chicago. For more information, please visit: http://www.agrep.com/
About NPC International
NPC International, Inc. is the largest franchisee of any restaurant concept in the U.S., based on unit count, and the fifth largest restaurant unit operator, based on unit count, in the U.S. The Company, which is headquartered in Leawood, Kansas and has a shared services center located in Pittsburg, Kansas, has a total of approximately 7,500 full time employees and approximately 28,500 parttime employees, and operates in 30 states and District of Columbia.
Press Contacts for A&G: Jaffe Communications (908-789-0700), Bill Parness,
Press Contacts for NPC: Sard Verbinnen & Co., Steven Goldberg/John Christiansen/Alyssa Lorenzo-310.201.2040/415.618.8750
SOURCE A&G Real Estate Partners