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NPC International, Inc., is selling 163 recently closed restaurants as part of its bankruptcy restructuring, and interested shoppers should act fast. Bids are due Oct. 23, said A&G Real Estate Partners, the firm marketing the leases.
According to A&G, the Pizza Huts on the market are an average size of 2,621 square feet, ranging in size from 1,000-square-foot properties exclusive to takeout and delivery, as well as full service restaurants as large as 5,916 square feet.
"With attractive rents and more than 80% of the leases offering extended option terms, these sites provide compelling opportunities for established and start-up foodservice and other retail operators seeking to expand in desirable suburban, urban and exurban markets across the U.S.,” explained A&G Senior Managing Director Joseph McKeska in a press release.
McKeska said that most of the restaurants for sale are freestanding locations near shopping centers and open-air centers; the others are freestanding highway locations and in-line sites.
In related headlines, competitor Papa John’s recently unveiled plans to open 49 new franchise locations throughout the Northeast.