Outback Steakhouse

Outback Steakhouse is an Autstralian-themed American casual dining restaurant chain, serving American cuisine, based in Tampa, Florida with over 1,000 locations in 23 countries throughout  North and South America, Asia, and Australia. It was founded in March 1988 in Tampa by Bob Basham, Chris Sullivan, Trudy Cooper, and Tim Gannon. It was owned and operated in the United States by OSI Restaurant Partners until it was acquired by Bloomin’ Brands, and by other franchise and venture agreements internationally.

Canadian Outback restaurants began in 1996. In March 2009, Outback Steakhouse Canada abruptly closed all nine locations in the province of Ontario, citing poor economic conditions. However, the restaurant later opened a location in Niagara Falls, Ontario which is the only Outback restaurant left in Canada.

In 1997, Outback entered the South Korean market through the franchise agreement with Aussie Chung Inc. Currently, there are 101 Outback Steakhouse locations throughout South Korea. Outback opened its first location in Japan in 2000; it now operates nine restaurants there.

On June 14, 2007, OSI Restaurant Partners completed a stock repurchase plan, and the company became privately held. In April 2012, Bloomin’ Brands, the current owner of Outback Steakhouse, filed with the SEC to raise up to $300 million in an initial public offering.

Bloomin Brands Inc became a publicly traded company on NASDAQ under the ticker symbol “BLMN.

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Parent Company: Bloomin' Brands Inc
Store Count: 0
S&P Rating: BB

S&P Outlook: Stable

Moody Rating: Ba2

Moody Outlook: Stable

Typical Lease Characteristics

Lease Term: 10 – 15 Years  Years

Lease Type: Absolute NNN Lease 

Lease Increases: 10% Every 5 years 

Lease Extensions: 4-5 (5) Year Options

Lease Guarantor: Corporate


  • Public Company, Credit Rated
  • Typically Long term leases with increases


  • Competitive Industry Sector
  • Susceptible to economic trends and pressures
  • Consumers are showing a growing interest in healthy food alternatives

Market Snapshots:

On Market Ranges:

# of Properties in set: 7

Price: $2,598,660 - $3,205,010Average: $2,887,400

PPSF: $380 - $450Average: $431

Year Built: 1992 - 2001Average: 1997

CAP Rate Range: 4.94% - 6.30%Average: 5.67%

Size range: 6,163 sq ft - 7,495 sq ft Average: 6,584 sq ft

Last 12 Month Range:

# of Properties in set: 7

Price: $3,325,100 - $3,780,110Average: $3,500,106

PPSF: $343 - $431Average: $399

Year Built: 1997 - 1998Average: 1998

CAP Rate Range: 5.33% - 6.01%Average: 5.67%

Size range: 6,000 sq ft - 12,218 sq ft Average: 7,271 sq ft

Outback Steakhouse Stock Keys

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