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About Applebee’s :
Applebee’s International, Inc. is a United States company which develops, franchises, and operates the Applebee’s Neighborhood Grill and Bar restaurant chain. As of November 25, 2007, there were 1,965 restaurants operating system-wide in all 50 states, 17 countries, and one U.S. territory.
The Applebee’s concept focuses on casual dining with mainstream American dishes such as salads, shrimp, chicken, pasta, and “riblets” (which is considered Applebee’s signature item). All Applebee’s restaurants feature a bar area and serve alcoholic beverages (except where prohibited by law).
In November 2007, IHOP announced that it had completed a $1.9 billion purchase of the Applebee’s chain.[2] The Applebee’s chain was started by Bill and T.J. Palmer who opened their first restaurant, T.J. Applebee’s Rx for Edibles & Elixirs, in Decatur, Georgia on January 1, 1980. After opening their second restaurant the pair sold their company to W. R. Grace and Company in 1983. As part of the transaction, Bill Palmer was named president of the Applebee’s Division an indirect subsidiary of W. R. Grace and Company. In that capacity, Palmer guided the operation from its entrepreneurial beginnings to a full-fledged franchise system. He became an Applebee’s franchisee in 1985 and today owns more than three dozen Applebee’s restaurants.
Fee simple single tenant Applebee’s triple net lease property for 1031 exchange.
