Pizza n' Brew Commissary Sale Leaseback

1121 Lewis Avenue | Sarasota, Florida 34237

Contact Brokers

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James Garner, CCIM
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

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Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com
(O) 813-387-4788
FL #SL3216834

Highlights

  • Industry in Area - This is an opportunity to acquire a large parcel just outside of downtown Sarasota, which has been the target of many new development projects as the area continues to grow.

  • Lease Guarantee Size & Strength - The lease is backed by the corporate holding company for the entire hospitality group encompassing the existing 6 Pizza n Brew units identified to open before EOY '22

  • Brand / Concept - The main concept this commissary serves is Pizza n Brew, which is a high margin pizza and beer offering that has proven to be pandemic resistant with a prominent delivery component.

  • Subject Property is the Nucleus of the Tenant's Operations - This property serves as the tenant's corporate headquarters, equipment warehouse, quality control food prep kitchen, and an on demand supplies delivery hub for all of its operating locations on the west coast of Florida.

  • The roof over the office section of the property was replaced in 2019. It was a compete tear off of all the old roof and insulation materials on the existing flat roof. A new roof including metal sloping steel structure, insulation and metal roofing was installed.

Description

Marcus & Millichap is pleased to present Pizza n’ Brew Commissary Sale Leaseback, a truly rare investment opportunity for an investor to purchase in the rapidly growing market of Sarasota, FL. The main concept this commissary serves is Pizza n’ Brew, which is a high margin pizza and beer offering that has proven to be pandemic resistant with a prominent delivery component as an off-premise revenue stream that hedges against any future brick and mortar disruptions. The lease is backed by the corporate holding company for the entire hospitality group encompassing the existing 6 Pizza n Brew units identified to open before EOY 2022 and the existing 7 bar concepts currently operating throughout downtown St. Petersburg and South Tampa. The corporate guarantee also allows an investor to benefit from a growing guarantee as this group continues its growth and expansion across all concepts. This property serves as the tenant's corporate headquarters, equipment warehouse, quality control food prep kitchen, and an on-demand supplies delivery hub for all of its operating locations on the west coast of Florida. This property and its operations are mission critical to the long-term success of this operator's current operations and future expansion.