Bielat Santore Trades Perkins to IHOP
FORKED RIVER, N.J., Oct. 7, 2024 /PRNewswire-PRWeb/ -- The long-time Perkins Restaurant, located at 113 Route 9, Forked River (Lacey To.wnship), Ocean County, New Jersey has been sold according to Richard Santore of Bielat Santore & Company, Allenhurst, Monmouth County, New Jersey, the broker for the transaction. The location will be transformed into an IHOP Restaurant following remodeling and retooling. "This is the second Perkins Restaurant in New Jersey I have sold to the same multi-unit IHOP franchisee. The first was in Woodbridge, New Jersey," continues Santore.
Perkins began in 1958 as a pancake house and grew to three hundred diner-style restaurants in thirty-two states. In recent years, the chains reputation has suffered and recently the company began a rebranding of its remaining restaurants. Perkins' sales decreased about 5% every year since 2019, partly due to economic challenges and competition from similar chains like IHOP and Denny's. Perkins is undergoing a major makeover of its remaining restaurants in hopes of attracting new and younger customers.
IHOP, also began as a family restaurant chain serving pancakes and a wide variety of breakfast, lunch, and dinner items in 1958. Both IHOP and Denny's have captured a good deal of the Perkins fall-out and have rebranded former Perkins into their brands.
Bielat Santore & Company specializes in the sale of all hospitality-type properties, which include but are not limited to, restaurants, catering complexes, taverns, golf courses, marinas, and hotels. Most of the firm's transactions include real estate, as did this sale. Since 1978, the principals of Bielat Santore & Company, Barry Bielat and Richard Santore, have sold more restaurants and similar type properties in New Jersey than any other real estate company.
Media Contact
Richard Santore, Bielat Santore & Company, 732.531.4200, [email protected], https://www.njrestaurantsforsale.com/
SOURCE Bielat Santore & Company
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