Monarch Commercial Advisors Brokers Sale Of Applebee's Portfolio For First-Ever Applebee's-IHOP Dual Branded Locations In CA And OR

Strategic deal brings fresh dining concept to West Coast, honoring legacy of pioneering restaurateur Joe Wong

WALNUT CREEK, Calif., April 8, 2025 /PRNewswire/ -- Monarch Commercial Advisors, a leading commercial real estate investment sales firm specializing in restaurant and retail assets, has announced the sale of nine Applebee's locations across California and Oregon. The buyer, a major IHOP franchisee based in Los Angeles, will convert seven of the sites into dual-branded Applebee's-IHOP restaurants—marking the first such locations in California and Oregon following a successful U.S. debut in Texas earlier this year.

The dual-branded concept, combining IHOP's beloved breakfast menu with Applebee's classic lunch and dinner offerings, aims to improve convenience for guests while enhancing operating efficiency. The model has already shown strong early performance: the first U.S. Applebee's-IHOP combination restaurant in Seguin, Texas, reported opening-week sales nearly three times higher than the standalone format it replaced. ( Source )

"Rising construction costs and shifting consumer patterns are driving retailers to get more efficient with designing their store layout," said Brandon Norton, Vice President at Monarch Commercial Advisors. "Whether it's Starbucks closing large format cafes and building smaller coffee kiosks or this Applebee's-IHOP dual-brand format, the goal is the same — capture more revenue across the day, boost margins, and maximize the value of existing sites."

The transaction also honors the enduring legacy of the late Joe Wong, a forward-thinking restaurateur who immigrated from Hong Kong to attend college in Southern California. He began his career as a Burger King employee and later became a franchisee, opening the first drive-thru Burger King location in California. He went on to build and operate a successful portfolio of Burger King and Applebee's restaurants throughout California and Oregon — including the nine Applebee's locations sold in this transaction. Wong passed away in 2024, leaving behind a reputation for integrity, vision, and hard work.

"We're proud to have facilitated a transaction that brings this new dining concept to the West Coast and continues Joe Wong's pioneering spirit," said Dave Lucas, President of Monarch Commercial Advisors. "It's a clear example of how legacy and innovation can come together to create value — both for the outgoing ownership and for the operator bringing new life to these sites."

This deal reflects Monarch Commercial Advisors' strength in portfolio sales and repositioning strategies. With deep market knowledge and a focus on execution, Monarch helps owners, operators, and investors achieve strategic results across the retail landscape.

Renderings: dual-branded concept: Download Images
Suggested caption: Rendering of Applebee's-IHOP dual-brand restaurants coming to California and Oregon.

About Monarch Commercial Advisors
Monarch Commercial Advisors is an investment sales brokerage firm specializing in single and multi-tenant retail properties nationwide. With strategic insight and market expertise, Monarch advises a growing client base of sophisticated owners, developers, and investors on complex transactions that align with their long-term goals. www.monarchcommercial.com

Media Contact:
Kendall Finnegan
Marketing Manager
Monarch Commercial Advisors
(415) 261-8883
393082@email4pr.com
www.monarchcommercial.com

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SOURCE Monarch Commercial Advisors