Pardue and his team focus exclusively on the valuation, capitalization, acquisition, and disposition of single-tenant, net lease investment properties. The goal is to create value for clients by specializing in small-cap company credit underwriting, equity raising and capitalization for new development, helping clients restructure leases to maximize value and focusing on complex transactions within the net lease marketplace. This sale, Pardue says, as a win-win that helped capitalize a restaurant group while helping meeting STORE's investment goals.

“The business and credit question about Wing House's model is, where else can someone leave work, get food, beer, sports and socialize with a fun staff for $25 a ticket?” asks Pardue. “Wing House has additional growth planned and will continue to capture market share in and around Florida. STORE Capital, a top national buyer of small to mid-cap credit, single-tenant, net lease properties, saw the value in the credit story and track record, and Third Lake Capital's professional management team was bullish on adding this credit to their portfolio.

MIAMI—The 14-property Ker's Wing House Portfolio has traded hands. The sale price for the Central Florida retail assets: $28 million. (An Applebee's net lease portfolio sale recently made headlines).

Stan Johnson Company senior director Joshua Pardue and his team were responsible for closing the transaction. STORE Capital acquired the 89,282-square-foot retail portfolio.

“This transaction is noteworthy due to the low cap rate achieved for a small-cap company in the casual dining space,” Pardue tells GlobeSt.com. “A key component of the marketing process was evaluating the 'waitress only' industry and explaining the narrative that this industry is as much an entertainment venue as it is casual dining. It's a space that consumers have embraced and continues to see momentum.”

How low can we go without a 2008 repeat? Get one opinion.

Pardue and his team focus exclusively on the valuation, capitalization, acquisition, and disposition of single-tenant, net lease investment properties. The goal is to create value for clients by specializing in small-cap company credit underwriting, equity raising and capitalization for new development, helping clients restructure leases to maximize value and focusing on complex transactions within the net lease marketplace. This sale, Pardue says, as a win-win that helped capitalize a restaurant group while helping meeting STORE's investment goals.

“The business and credit question about Wing House's model is, where else can someone leave work, get food, beer, sports and socialize with a fun staff for $25 a ticket?” asks Pardue. “Wing House has additional growth planned and will continue to capture market share in and around Florida. STORE Capital, a top national buyer of small to mid-cap credit, single-tenant, net lease properties, saw the value in the credit story and track record, and Third Lake Capital's professional management team was bullish on adding this credit to their portfolio.