8 Kings restaurant locations in Western Pa. are on the market
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Eight Kings Family Restaurant locations in Western Pennsylvania are on the market.
Offered as a master lease portfolio in an April 2020 commercial listing on Loopnet.com, the locations are in Allegheny Township, Kittanning, Monroeville, Monaca, Canonsburg, Somerset, Franklin and Meadville.
Six of the businesses are within a 45-mile radius of Pittsburgh and seven of the properties are stand-alone locations.
Jarrett Ritenour, senior vice president of operations at Kings, said all 16 locations located in Western Pennsylvania and Ohio plan to remain open for business.
“We’re not going anywhere. We still have the Frownie,” Ritenour said. “We rent and don’t own the properties, but we have a long-term lease for multiple years.”
Listing agent Brian Brisky, president of Brisky Commercial, based in Minneapolis, said the listing doesn’t include a price.
“It’s unpriced and we’ve had a lot of interest, but unfortunately it’s from potential buyers interested in individual units,” Brisky said.
The seller is Scottsdale, Ariz.-based Store Capital. A spokesman there declined to comment.
Under a master lease agreement, Brisky said a tenant makes one rent payment to the landlord for all units.
Kings was established in 1967 in North Versailles, offering a family-style menu that includes sandwiches, burgers, soups and classic American fare.
Their website describes the chain as part of the “fabric of Pittsburgh.”
Founder Hartley King sold his 30 restaurants to San Diego-based Kelly Operations Group in 2015, which maintains corporate offices in Pittsburgh and San Diego.