Funding

Funding Needed
$100 (Mio)
EB5 Funding
$100 (Mio)
EB-5 Investors
200
Investment Amount
$500,000

Jobs

Category
Accommodation and Food Services
Sub-Category
Limited-Service Restaurants

Location

State
Florida
Location
121 South Orange Ave, Suite 1230 Orlando, FL 32801

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Last Update: February 04, 2015 01:00 PM

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MIAMI FLORIDA SONIC


Project Description

QueensFort has executed an exclusive Area Development Agreement with Sonic for the development of 30 Sonic restaurants in Miami-Dade and Broward Counties and the development of 6 Sonic Restaurants in the Orlando area. In addition, Sonic has agreed to work with QueensFort in good faith to expand the Area Development Agreement to include additional restaurants as the market areas are developed. Moreover, an affiliate of QueensFort has acquired two existing Sonic restaurants, as well as vacant land approved for the development of an additional Sonic restaurant in Orlando.
QueensFort’s business and expansion plans has three thrusts, each of which is initially intended to use proceeds of the offering to acquire or develop Sonic brand quick service restaurants in the State of Florida. One thrust is the development, ownership and operation of traditional-format free-standing drive-in restaurants. A second is the development, leasing and operation of non-traditional Sonic restaurants, generally contained in high foot-traffic buildings adjacent to other retail facilities; QueensFort has exclusive development rights in market areas which are conducive to this form of development. The third thrust is the purchase or leasing, and operation of existing Sonic drive-in restaurants currently operated by other Sonic franchisees.

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