NPC International's Restructuring Offers Leases For 163 Pizza Hut Sites In 26 States
NPC International is working with A&G Real Estate Partners to market 163 Pizza Hut sites as part of the multi-brand operator’s Chapter 11 bankruptcy reorganization.
In a statement, A&G said its marketing leases for 163 recently closed Pizza Hut sites in 26 states and also advising NPC on a portfolio of more than 1,000 Pizza Hut and Wendy’s locations. The majority of the Pizza Huts are freestanding locations in neighborhood shopping centers and regional open-air centers, with a few more freestanding highway sites and in-line locations.
A&G Senior Managing Director Joseph McKeska said, “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.”
Bids for the spaces occupied by 163 closed Pizza Hut sites are due October 23.
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