U.S.-based Valore Ventures, a boutique commercial real estate investment firm, has bought fee simple interest in four brand-name restaurants in Garden Grove, California, for $13.1 million.
The four restaurants include Oggi’s Pizza & Brewery, Outback Steakhouse, Red Robin Gourmet Burgers and Brews and Joe’s Crab Shack.
The properties are all subject to ground leases and were constructed between 2001 and 2008.
The assets also feature a 2.8-acre parking lot, which is owned by the nearby Sheraton, Marriott and Delta hotels, but is exclusively for restaurant use.