Investors Needed: Reopening of Gourmet Food & Wine Flagship Store
Listing was updated at: 04/24/2019
Property Overview
Price/Rent PSF $ 1,030,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 10,000
Date Available 04/18/2019
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Description

Location
Ideal location is along the Lake Michigan shoreline in the Grand Rapids market area. Address shown belongs to broker, not the business.

Sale
Fourth, fifth, and sixth generations of a legacy business in the Italian gourmet food and wine specialty store sector are seeking investors to reopen their flagship location. The family has pioneered many of the brands and concepts that are commonplace in today’s market and their name is synonymous with fine Italian food and wine. The business owners have generations of experience in operating this profitable business and are experts at what they do.

The investment opportunity is to become a silent partner in exchange for operating capital to relaunch the business operations. The business is willing to share up to half of ownership in exchange for capital.

An additional investment opportunity is to secure or develop the ideal structure and real estate. Options include a buildout of a rented site, acquisition and build of vacant land, or sale and leaseback. A target location has been identified with strong demand and loyal following. The size of the retail location should be between 6,000 and 12,000 sf, depending on the size and scale of operations the investors decide to fund.

In its former location, the business owners invested their own money in an extensive buildout with partial ownership in the real estate. Unfortunately, high rates of violent crime negatively impacted their ability to follow through with the business launch and the owners forfeited their investment out of concern for the safety of family, employees, and customers.

Location