Today before the opening bell, GRILLiT announced the execution of a letter of intent (“LOI”) to acquire an existing restaurant. After a low-cost retrofit, the location would serve as the company’s third location in South Florida.
Located in a well-trafficked area next to the University of Miami, the restaurant is expected to be in GRILLiT’s possession no later than August 27, 2013. GRILLiT has already paid the initial deposit into escrow as required by the terms of the LOI.
GRILLiT CEO, Raymond Dias, stated, “We are extremely pleased to have the opportunity for this store location. It is a perfect fit for us, both in terms of the existing store being a relatively simple retrofit, as well as being in an ideal area that gives us exposure to the large student population.”
GRILLiT’s healthy, fast-casual restaurants offer American, Asian Fusion, and Latin American food styles. The company’s restaurants are known for their great atmosphere, casual dining, and freshly prepared lunch and dinner options. The company is focused on expansion throughout Florida and the southeastern United States and nationwide franchising opportunities.
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