Steak n Shake will auction off 15 of its locations this month, including three in Michigan.
The company closed the restaurants at the available properties in the past 12 months, according to a news release announcing the auction.
Keen-Summit Capital Partners and NAI Global were hired to run the sale with a bid deadline of Aug. 31 and auction date of Sept. 4. Additional properties are expected to come available in another auction in September.
“Many of these locations are virtually turn-key with much of the restaurant equipment available within the building,” said Harold Bordwin, principal and managing director at Keen-Summit.
All the buildings are free-standing with a drive-thru. The minimum bid is $367,000 per property.
The properties are in Alabama, Florida, Illinois, Indiana, Iowa, Michigan, Missouri, Ohio, Pennsylvania and Texas, and range between 3,734-7,041 square feet.
The Michigan properties are as follows:
- 1917 Pipestone Road, Benton Harbor; 7,041 square feet on 1.45 acres
- 17200 Middlebelt Road, Livonia; 3,856 square feet on 3.89 acres
- 32751 Concord Ave., Madison Heights; 4,348 square feet on 1.35 acres
For more information on the Benton Harbor location, contact Josh Jacobs, NAI Wisinski of West Michigan, at 269-459-0430 or joshuaj@naiwwm.com.
For more information on the Livonia and Madison Heights properties, contact Alis Manoogian, NAI Farbman, at 248-351-4370 or manoogian@farbman.com.
The bid procedures and full offering details are available at www.steaknshakepropertyauction.com.
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The Link LonkAugust 06, 2020 at 09:08PM
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Steak n Shake to auction 15 locations, 3 in Michigan - MLive.com
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