The restaurant locations were sold within five months of going on the market. The sale/leaseback of these locations is the result of the recent purchase of Timber Lodge Steakhouse Inc. from the Santa Barbara Restaurant Group by Peter Bedzyk, the president of Timber Lodge Steakhouse, and eight other investors.
A group of investors from Madison, WI, purchased the Burnsville location for $2.35 million and the Mankato store, which sold for $1.875 million. The Maple Grove location fetched $2.8 million from an investor group based in River Falls, WI.
Two more stores, in Eau Claire and Appleton, WI, remain on the market.Timber Lodge currently operates 24 restaurants in seven states. Timber Lodge Steakhouse is headquartered in Bloomington, MN.
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