Fat Brands to Convert Smokey Bones Restaurants into Twin Peaks Stores for IPO Boost

Estimated read time: 4 minutes and 21 seconds

Notable Loan: Chad O’Connor of Marcus & Millichap, just financed this Dollar General Portfolio in Craigsville & Radnor, WV:

• Amount: $1,600,000 @ 6.11% Fixed

• 10-Year Term / 25-Year Am / No Prepay Penalty

LIGHT UP A FATTY

Fat Brands to Convert Smokey Bones Restaurants into Twin Peaks (Read Here)

Conversion advantage: Converting Smokey Bones restaurants into Twin Peaks can be done in just nine months compared to the two and a half years it would take to build new Twin Peaks locations. The similarities between the two brands allow for a smoother transition and potential cost-saving benefits.

Contrasting performance: Smokey Bones experienced a modest 2.2% increase in sales last year, while Twin Peaks' sales soared by nearly 23%. This conversion plan aims to capitalize on the success of Twin Peaks and leverage its stronger performance.

💰 THE MONEY SHOT

Franchise growth: While Smokey Bones locations will be converted into Twin Peaks, Fat Brands still plans to grow and franchise the Smokey Bones brand across their system. This dual strategy aims to maximize the potential of both brands and expand their presence in the market.

For a contact list of Twin Peaks property owners reply “Twin Peaks List” to this email.

DECADE LONG RAGER

Smoothie King leads the global smoothie market with a 13% Compound Annual Growth Rate (CAGR) over the last decade. (Read Here)

Rage Cage: Wan Kim, CEO of Smoothie King, shares insights on how he has built a successful strategy focused on inspiring people to live a healthy and active lifestyle. With the global smoothie market projected to reach $10.9 billion by 2028, Smoothie King is leading the way with a 13% Compound Annual Growth Rate (CAGR) over the last decade.

Authentic menu innovation: Smoothie King underwent a menu overhaul in 2016, ensuring that their offerings aligned with consumer demands for healthier ingredients. By providing options that fit various lifestyles and maintaining transparency about ingredients, Smoothie King has seen success, with their Smoothie Bowls alone contributing to an 11% increase in same-store sales year-over-year at the end of Q2 2023.

💰 THE MONEY SHOT

CAGR Rager: Smoothie King's CEO attributes the brand's success to authentic menu innovation that aligns with consumer demands and the passion of franchisees who embrace the brand's mission. By focusing on these key factors and maintaining an open mindset, Smoothie King has outpaced industry growth projections and continues to lead in the thriving global smoothie market.

For a contact list of Smoothie King property owners reply “Smoothie King List” to this email.

SLB MVP

WP Carey predicts that financially pressured companies will increasingly look to unlock value from their real estate to meet their growth strategies and business objectives (Read Here)

Sale-leaseback solutions: WP Carey expects more private equity firms to utilize sale-leaseback solutions to fund and support the growth of their portfolio companies. The recent deal with Siderforgerossi, a portfolio company of KPS Capital Partners, highlights this trend.

Focus on mission-critical assets: WP Carey maintains its sector-agnostic approach but places emphasis on "mission-critical" assets. The industrial and logistics sector, as well as select retail segments such as grocery and DIY stores, are recognized as strong investment opportunities.

💰 THE MONEY SHOT

Overall Summary: With interest rates expected to remain high in the foreseeable future, financially stressed companies are turning to innovative strategies like sale-leaseback solutions to leverage the value of their real estate assets.

For a contact list of Sale Leaeback property owners reply “SLB List” to this email.

TRIPLE NET TENDIES

🧠 Thought Leader: John Andreini shares on Twitter how some buy side brokers are now asking for .5% to 1.5% more fees from listing brokers

👂 Ear Hustle: Chelsea Mandel talks about “Perfecting the Sale Leaseback”

💎 Web Gem: Fast Casual restaurant stats up 11.5%

NET LEASE NUGGIES

• Olive Garden, Applebee’s, and IHOP play a significant role in fostering interactions between individuals from different income brackets

• Huey Magoo's celebrates its 50th location in North Carolina, expanding into its 10th state

• Evereve plans to add 12 to 15 stores annually, aiming to reach a total of 200 by 2030

• Best Buy is venturing into the home healthcare space by offering prescription-based medical devices

• Amazon Lowers Minimum for Free Grocery Delivery

MEME OF THE DAY

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