The Patio Group selloff continues with a second “wave” of properties, including all Surf Rider Pizza locations, joining the auction block.
Next Wave Commercial, which recently represented entrepreneur Steve Young in purchasing The Holding Company in OB, is handling the listing of five fast-casual restaurants, including Surf Rider.
Founded in OB in 2010, East Coast-style Surf Rider was brought under the umbrella of The Patio Group in 2015.
“This portfolio represents a rare opportunity for a restaurant group or individual operator to acquire several newly renovated restaurant facilities,” said Paul Ahern of Next Wave Commercial. “These locations could either be purchased with the trade name/intellectual property and continue operating as Surf Rider Pizzas or instead be rebranded to entirely new concepts.”
In addition to the Surf Rider spots, which range in size from 1,029-square-feet to 4,143-square-feet, the available sites also include the now-shuttered Bao Beach, which opened in 2016 on Mission Boulevard and served an Asian-inspired menu.
In August 2019, Gina Champion-Cain, founder of The Patio Group, was civilly charged by the United States Federal Securities and Exchange Commission for allegedly operating a multi-year, $300 million scheme that defrauded approximately 50 retail investors.
The Patio on Lamont, Surf Rider restaurants in Mission Beach, La Mesa and Ocean Beach, and Saska’s in Mission Beach, have all been placed by a receiver under the operational guidance of Cohn Restaurant Group.