Real Estate Weekly
Image default
Featured Retail

Katz seeking new homes for the SWAG burger

Katz & Associates is expanding the roll-out of all-natural hamburger chain BurgerFi into the New York tri-state area.

The company has already executed 17 leases for the fast-growing franchise in Florida, North Carolina, Tennessee, and Virginia.

Now, brokers are looking for additional sites in those states, as well as in Georgia, New York, and New Jersey as the chain anticipates adding a total of 50 new locations between 2021 and 2022.

“It’s exciting to work with this rapidly expanding fast-casual restaurant chain,” said Jon Cashion and Nicole Fontaine of Katz & Associates. “We’ve been securing locations in strong retail corridors where consumers appreciate the high-quality, delicious food and leading sustainability practices that BurgerFi delivers.”

Established in 2011, BurgerFi has become one of the nation’s fastest-growing better burger concepts with approximately 120 restaurants domestically and internationally. The concept is chef-founded and is committed to serving fresh food of transparent quality.

The Katz team across offices – including Cashion, Fontaine, Julie Gardner, David Eggnatz, and Daniel Solomon – is seeking locations that range from 2,000 to 2,400 s/f, plus 500 square feet as an outdoor patio/seating area.

BurgerFi saw its revenue increase 65 percent in the second quarter to $11.8 million, as both corporate and franchise stores posted double-digit gains.

Systemwide sales increases for the fast casual chain were supported by an increase in average check value, the company’s digital channel sales, as well as the introduction of the SWAG burger in 2021 which sells for around $11.

(Visited 1 times, 1 visits today)

Related posts

Party City consolidates tri-state operation with 200,000 s/f HQ move from NY to NJ

REW

Investcorp partners with sovereign wealth funds for industrial acquisition push

REW

Apollo turbocharges retail investment strategy with Griffin acquisition

REW