A Bob Evans restaurant in Centerville has been sold for more than $2 million.
The restaurant, located at 5525 Wilmington Pike, was sold to Four Corners Property Trust on Tuesday for approximately $2.1 million. Four Corners Property Trust is an independent, publicly-traded company that owns, acquires and leases restaurant and other retail properties.
» RELATED: Bobs Evans restaurants officially sold
California-based Four Corners announced last month that it acquired 16 Bob Evans properties in several states for more than $35 million. The 16 acquired properties are in Delaware, Indiana, Maryland, Michigan, New York, Ohio, Pennsylvania, Virginia and West Virginia.
The acquired restaurants will not close.
“We are pleased to announce our largest sale leaseback to date,” said Bill Lenehan of FCPT. “The properties have attractive lease terms, appropriate rent levels, and a large corporate tenant. We have confidence in the Bob Evans team and Golden Gate Capital to continue to perform well within the family dining subsector.”
» Bob Evans CEO: Restaurants will remain open
Bob Evans Restaurants has operations in 18 states. The parent entity, Golden Gate Capital recently acquired the restaurant portion of the Ohio-based Bob Evans business earlier this year for $565 million. Golden Gate Capital also runs restaurant chains like Red Lobster, California Pizza Kitchen, and On The Border.