Compass successfully closed on the $53,000,000 construction mini-perm loan for a 350 unit Class “A” Luxury…
Miller’s Ale House – $3,528,000 Acquisition
Compass successfully closed on the $3,528,000 acquisition of a Miller’s Ale House located in Henderson, Nevada. The subject property consists of a 2.04 ± Acre parcel subject to a long term Ground Lease and improved with a 9,500 ± SF single-story restaurant owned and operated by the Miller’s Ale House.
The subject property is an outparcel of the popular Sunset Station Casino and Hotel. The property is ideally located on the east side of North Stephanie Street close to the signalized hard corner intersection of North Stephanie Street and West Sunset Road which receives approximately 59,200 ± vehicles per day. The Miller’s Ale House features a large monument sign which complements its close proximity to roadway traffic. The property also enjoys large amounts of cross traffic generated by the Sunset Station Casino’s multiscreen IMAX Regal Cinemas, 72 lane bowling alley, 457 hotel rooms and over 110,000 SF of gaming space.
Miller’s Ale House was founded by Jack and Claire Miller in Jupiter, Florida in 1988. Since its founding the chain has grown to over 69 locations in 10 states. In July of 2013 Miller’s Ale House was acquired by Roark Capital Group, an Atlanta based private equity firm with $3 billion of equity capital under management. Roark focuses on middle-market investment opportunities through family-owned business transfers, management and corporate buyouts, recapitalizations, going-private transactions and corporate divestitures. The restaurants atmosphere and menu attracts a broad variety of clientele and offers delicious steaks, fresh seafood, original pasta dishes, healthy salads, sandwiches and homemade desserts. The Henderson location features an outdoor patio 68 big screen TV’s and two (2) full service bars which serve more than 75 different types of beer, wines and liquors.