The subject property is a brand new 5,155 square foot Perkins Restaurant & Bakery located just off Exit #142 of I-80 & US 6 in Altoona, Iowa, just outside Des Moines. This is a great location across from the Adventureland Amusement Park & Resort, and Prairie Meadows Race Track & Casino. Other retailers in the immediate area include McDonald’s, KFC, Pizza Hut, Quality Inn & Motel 6.
Perkins Restaurant & Bakery – Aloona, Iowa
Perkins was founded in 1958, it operates 410 restaurants in 33 states and five Canadian provinces. The Perkins system includes 132 company-owned and operated restaurants and 278 franchised units. The Company also has a baked goods manufacturing division operating under the name Foxtail which manufactures pies, pancake mixes, cookie dough, and muffin batter for in-store bakeries and third-party customers. The combination of the Perkins Restaurant & Bakery chain with Marie Callender’s occurred in 2006. Marie Callender’s consists of 45 company and 34 franchised restaurants in 7 states; it is famous for its fresh-baked pies and has a national presence through supermarket frozen entrée lines offered by ConAgra. Private investment funds managed by Wayzata Investment Partners LLC are the majority owners of Perkins & Marie Callender’s Holding LLC, the parent company of the Perkins & Marie Callender’s group of companies.