Bob Evans
Baskersfield, CA
Bob Evans Restaurants is a chain of family style restaurants founded and headquartered in Columbus, Ohio, which owns and operates over 500 locations in 18 states, primarily in the Midwest, mid-Atlantic and Southeast regions of the United States. Bob Evans believed in treating strangers like friends and friends like family; and those principles are alive today at every Bob Evans Restaurant. As a private company owned by Golden Gate Capital, Bob Evans Restaurants is focused on providing quality food and hospitality to every guest at every meal, each and every day.
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Typical Lease Characteristics
Lease Term: 15 – 20 Years Years
Lease Type: Absolute NNN Lease
Lease Increases: Typically Yearly Increases. 1.5%-2.5%
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate
Tenant Overview
Golden Gate Capital (“GCC”), Parent company of Bob Evans, is a San Francisco based private equity firm with over $15 billion of committed capital. GGC bought Bob Evans in the begining of 2017, increasing the strength and longetivty of the Brand and its restaurants.
Bob Evans Restaurants fits directly within GGC’s investment strategy partner with strong management teams to acquire strong, established brands with an opportunity to grow earnings through better execution, productivity improvements and unit growth.
Positives:
- Corporate Backed Leases
- Strong presence across the US
- Typically Long term leases with increases
Negatives:
- Private Company
- Competitive Industry Sector
- Susceptible to economic trends and pressures
Market Snapshots:
On Market Ranges:
# of Properties in set: 1
Price: $2,592,500 - $2,592,500Average: $2,592,500
PPSF: $543 - $543Average: $543
Year Built: 1999 - 1999Average: 1999
CAP Rate Range: 6.00% - 6.00%Average: 6.00%
Size range: 4,768 sq ft - 4,768 sq ft Average: 4,768 sq ft
Last 12 Month Range:
# of Properties in set: N/AV
Price: N/AV - N/AVAverage: N/AV
PPSF: N/AV - N/AVAverage: N/AV
Year Built: N/AV - N/AVAverage: N/AV
CAP Rate Range: N/AV - N/AVAverage: N/AV
Size range: N/AV - N/AV Average: N/AV