Hollywood Studio District BurgerIM Hits The Market

An open and operating BurgerIM restaurant in Melrose Hill has been listed for lease or purchase, and the price is “negotiable.”

The “turnkey” corner space, at 5001 Melrose Ave., offers “high modern finishes, top-of-the-line equipment, and high ceilings,” according to a recently-published listing marketing the property.

Employees of the restaurant are most likely unaware of the impending sale, the listing indicates.

BurgerIM’s 1,533-square-foot space, which opened in early-2017, would be ideal for a restauranteur looking to “plug and play” a new concept in its place, not needing to do much work to the second-generation unit.

Current rent is $8,551.13 per month which includes a base of $7,554.68 and $996.45 in Net Net Net or “NNN,” which are pass-through expenses like property taxes and insurance, and common-area maintenance.

Those figures are presumably in addition to an actual sales-price that would cover acquiring the physical restaurant and its assets.

BurgerIM’s for-sale listing doesn’t come as a surprise as the parent company in mid-December, 2019 told its franchisees that it was considering a bankruptcy filing and hired an insolvency counsel.

The Tel Aviv-based fast-casual chain since 2011 has had nearly 50 percent of its 200 stores close.

Developing…