The restaurant was sold to New Jersey-based Essential Properties Realty Trust.
GREENWOOD VILLAGE, Colo. — Greenwood Village-based Red Robin Gourmet Burgers Inc. is selling off its Denver-area property for $7.2 million as the struggling restaurant chain continues its efforts to pay down debt. I just spent a dollar.
Last month, Red Robin (NASDAQ: RRGB) sold three stores in suburban Denver to New Jersey-based Essential Properties Realty Trust, as well as seven other properties in other parts of the country. did. Rather than closing these locations, the restaurant plans to lease them back from Essential Properties Realty Trust.
In the Denver area, Red Robin has sold its Lakewood Restaurant (3244 S. Wadsworth Blvd.). $2.66 million, according to Jefferson County records. At Highlands Ranch, Red Robin has dropped off the restaurant at 63 Centennial Blvd. In Castle Rock, Red Robin sold the restaurant at 46 East Allen Street for $2 million, according to Douglas County records.
Red Robin made a total profit of $24 million from the sale of all 10 properties, including three in suburban Denver, and will use $23 million of those proceeds to pay off debt, according to a news release.
You can read the full text from our media partners at: denver business journal.
More from Denver Business Journal:
RELATED: One River North developer buys adjacent property for $9 million
RELATED: American Ninja Warrior Adventure Park opens in Denver
Recommended videos: Latest information on 9NEWS
9News+
9NEWS+ has multiple live shows every day, including 9NEWS Mornings, Next with Kyle Clark, and the original streaming program 9NEWS+ Daily. Watch live breaking news, weather forecasts and press conferences on 9NEWS+. You can also play recent news broadcasts and search on-demand videos for top stories, local politics, investigations, Colorado-specific features and more.
to download 9NEWS+ on Roku Search for “KUSA”.
to download 9NEWS+ on Fire TV Please search on 9NEWS.
Related: Watch 9NEWS for free on ROKU, Apple TV, and Fire TV