Boca Raton investors buy newly opened IHOP

BUYER: IH Bradenton LLC (principals: Charles and Charlotte Hendrix), Boca Raton
SELLER: Sunshine Realty Partners LP
PROPERTY: 6320 E. State Road 64, Bradenton
PRICE: $1.89 million
PREVIOUS PRICE: $1.38 million, August
LAW FIRM ON DEED: McGuireWoods LLP, Atlanta

PLANS, DESCRIPTION: Two Boca Raton investors Charles and Charlotte Hendrix purchased the 4,402-square-foot former Friendly's restaurant building for $1.89 million.

The price equated to $429 per square foot.

The building, which sat vacant since late 2011 when the Friendly's restaurant chain filed for Chapter 11 bankruptcy, was recently purchased by an affiliate of Sunrise-based Sunshine Restaurant Partners. The firm remodeled the building and reopened it as an IHOP restaurant.

Built in 2005, the restaurant building occupies a 1.43-acre lot at Kay Road and State Road 64 East.

The Business Observer was unable to contact either Hendrix for comment.