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9218 Anderson Road - Logan's Roadhouse, Tampa, FL

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DetailMap
9218 Anderson Road - Logan's Roadhouse

Tampa, FL 33634-1297 - Northwest Tampa Submarket


Property Type:Retail Sub Type:Restaurant Status:Existing Year Built:1999
Building Size:7,889 SF Land Area:1.6 AC (69,696 SF)
For Sale Price:$1,600,000 Price/SF:$202.81
Cap Rate:-
Parking:125 Surface spaces are available
Features:Dedicated Turn Lane, Pylon Sign
7,889 SF is available to occupy upon purchase.


Founded in 1991, Logan’s is an owner, operator and franchisor of full-service restaurants. Logan’s operates 168 roadhouse-style restaurants located in 20 states, with concentrations in Texas (14% of total restaurants), Tennessee (10%) and Michigan (9%). The majority of restaurants are company-owned (85%). Logan’s restaurants are designed to resemble traditional American roadhouses of the 1930’s and 1940’s.

Logan’s six member executive management team averages 22 years experience in the restaurant industry. Tom Vogel, President & CEO, Steve Anderson, VP Menu, Chris Plunket, SVP Operations, Robert Effner, SVP Development all previously worked together at Darden. Mark Hood, CFO came from Panera Bread and Amy Bertauski, VP Finance previously worked at Applebee’s.
Click Here <http://www.sec.gov/Archives/edgar/data/946366/000095014406006652/g01640sv1.htm> to view Tenant Financials.

Logan’s is a proven concept and geographically diverse restaurant platform
Logan’s dining experience has created strong customer loyalty with 25% of its guests visiting once or more per week and 12.5% of its guests visiting twice or more per week. Overall satisfaction of 85% for lunch and 94% for dinner, higher than nearly all of its primary competitors.

In core markets, Logan’s attracts nearly 5,000 guests per week without relying on broadcast advertising.

Strong brand equity: Logan’s ranks among the top of its peer group in brand equity ratings. Brand equity scores based on image, customer relationship and value increased 43% in the last two years.

Competitive position in steakhouse category: Logan’s is the original roadhouse concept competing in the casual dining steakhouse category.
Bruckmann, Rosser, Sherrill & Co., L.L.C. <http://www.brs.com/>, a New York-based private equity firm, and Canyon Capital Advisors <http://www.canyonpartners.com/>, a Los Angeles-based private equity firm, purchased Logan's from CBRL Group, Inc <http://www.cbrl.com/>. (Nasdaq: CBRL), parent company of the Cracker Barrel restaurant chain

Bruckmann, Rosser, Sherrill & Co, (BRS) and Canyon Capital Advisors have approximately $1.2bn and $11bn in capital under management, respectively
BRS has completed 61 acquisitions including 12 restaurant companies. BRS’s current restaurant portfolio includes Au Bon Pain <http://www.aubonpain.com/>, McCormick & Schmick’s <http://www.mccormickandschmicks.com/>, Bravo, Brio <http://www.brioitalian.com/>, Le Fonario, Corner Bakery Café and California Pizza Kitchen <http://www.cpk.com/>.

Canyon Capital is a multi-asset, multi-strategy value oriented investment firm founded in 1990. The principals of BRS and Canyon have known each other for 20 years and the two firms have previously worked together on several transactions.

Plans are to continue restaurant growth at the rate of 12% to 15% per year. Fifteen approved sites are in the pipeline for 2007 and 18 for 2008.

According to the National Restaurant Association, U.S. restaurant industry sales in 2005 were approximately $486 billion, representing approximately 4% of the U.S. gross domestic product. The NRA projects that 2006 U.S. restaurant industry sales will be $511 billion, representing the 15th consecutive year of sales growth, adjusted for inflation, for the industry and a 5.1% increase over 2005.

Sale Notes:
TURN-KEY RESTAURANT LOCATION WITH FRONTAGE ON ANDERSON RD.

Grimaldi Commercial Realty
David Rosenthal
(813) 882-0884




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