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Restaurant Business in New Jersey

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Listing Information

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Restaurant Business in New Jersey



Minimum Price: $4,000,000.00


Other Item Info
Item #: njbke_914486
Created: 10/14/2014
Category: Business Property > All Assets or Going Concerns > Restaurants
Sale Location: Camden, New Jersey
Sale Date: Mon. Nov 17, 2014
Seller Info
William Mackin
Debtor's Attorney
105 N. Broad Street P.O. Box 304
Woodbury, NJ 08096
856-848-2152
Bankruptcy Info
Case #: 1:14-bk-22572
Court: New Jersey Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of Assets of Casa Carollo Bar and Grill, LLC, a New Jersey limited liability company, described as:

  1. Real Property - Real property located at 200 and 220 Route 73 North, Marlton, NJ 08053 and identified on the Evesham Township Burlington County tax map as Block 20, Lot 1.01, containing approximately 3.253 acres of land, together with all buildings, improvements and fixtures thereon and all easements, rights-of-way of use, privileges, licenses, appurtenances and rights belonging or appertaining thereto;
  2. Assigned Contracts - All of the Seller's right title and interest in and to that certain ground lease on a portion of the Real Property, as amended on March 2, 2004 and May 20, 2009 (the “Chick Fil’A Lease) and other contracts the Purchaser may wish to have assumed and assigned together with all prepaid rents and security deposits;
  3. Liquor License - The State of New Jersey Plenary Retail Consumption License number 0313-33-028-001 issued by the Board of Alcoholic Beverage Control of the Township of Evesham, Burlington County New Jersey to the LLC; and
  4. LLC’s Assets - All of the LLC’s right, title and interest in and to the non-food inventory, furniture, equipment, fixtures and other personal property assets used by the LLC in connection with the operation of its business.

Sale Location

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Camden, NJ,

Additional Details

  1. Auction in "Courtroom 4C" @ 10:00 a.m.
  2. Sale Hearing held on November 21, 2014 at 10:00 am
  3. Bid Deadline: no later than 5:00 pm on November 14, 2014
  4. Initial Overbid Amount: $4,195,000, consist of $4,000,000 (Purchase Price) plus (i) $50,000,  (ii) the Expense Reimbursement ($25,000) and (iii) the Breakup Fee ($120,000)
  5. Good Faith Deposit: 10% of Bid Amount
  6. Bidding Increments: $50,000
  7. Assignment Objection Deadline: on the day before the Final Sale Approval Hearing on November 21, 2014


Other Information

Terms and Conditions:

See attached.


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