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Florida & Gulf Coast  + Gulf Coast  + Retail  |  February 17, 2022
Aerial view of a Dairy Queen restaurant with drive through service and outdoor picnic tables
Lisa McDuffie
By: Lisa McDuffie

Faris Lee Investments Grills, Chills after Portfolio Sale of DQ Restaurants in LA

Faris Lee Investments has completed the sale of a portfolio comprised of 10 operating Dairy Queen restaurants in LA. Two separate buyers purchased the real estate and businesses for undisclosed prices.

Scott DeYoung, Jeff Conover and Hunter Steffien of Faris Lee Investments represented the seller, MP Holdings, LLC, the existing Dairy Queen franchisee.  According to the company, each operating store was profitable with a strong and stable cash flow; one location was undergoing a remodel at close of escrow due to Hurricane Ida.

The 10 restaurants are located in New Orleans, Baton Rouge, Lafayette, and Houma. All featured relatively new prototypes and are freestanding buildings with a drive-thru on large parcels with proven visibility and traffic counts. Due to the nature of the operating business, Faris Lee Investments strategically targeted multi-unit Dairy Queen Franchisee operators, REIT’s, private equity firms and family offices, which generated multiple offers and closed transactions within 52 days from opening escrow.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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