The property is located in Georgia and is occupied under a triple-net lease with approximately 7 years of term remaining. The transaction was priced at a 6.8% going-in cash cap rate, exclusive of transaction costs.
Bar-B-Cutie SmokeHouse Plans 4th and 5th Locations in the Rio Grande Valley
Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) and Denver-based Punch Bowl Social today announced they have entered into a strategic relationship, with Cracker Barrel taking a non-controlling position in the concept. Under the terms of the agreement, Cracker Barrel will invest up to approximately $140 million to acquire its initial non-controlling stake and to provide growth capital for future development.
One concession will open in PPG Paints Arena, home to the National Hockey League's Pittsburgh Penguins, and will be open for the 2019-2020 hockey season. The second, inside FirstEnergy Stadium and home of the National Football League's Cleveland Browns, opened on August 8 for the first preseason game.