Businessmen Donnie Jarreau and Ryan Jumonville have bought two Baton Rouge area locations of Sammy’s Grill with plans to lease both back to restaurant operator Sammy Nagem, says Jarreau.
Doing business through Sam-High LLC, Jarreau and Jumonville purchased the properties from Nagem, Sammy’s longtime operator who last summer opened Creole Cabana at The Oasis on Burbank Drive, which was not part of the sale.
The Sammy’s on Highland Road sold for $3.8 million, while the Prairieville property fetched $3.7 million.
Nagem intends to make improvements to the restaurants and relaunch with some new features, which inspired the sale-leaseback, says Jarreau, adding the deal was a good investment because of the restaurants’ 30-year history. Nagem was unable to be reached before this afternoon’s deadline for more information.
Jarreau and Jumonville have teamed on four property deals, worth roughly $44 million, over the past few years, with Sammy’s being their first in Baton Rouge.
