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Iceberg Restaurant has been a part of Downtown St George for many years providing hamburgers, famous shakes, and a place to showcase classic cars. The Holbrook family, owners of the building Iceberg rented, recently decided to sell the building. Iceberg, the tenant, moved forward to acquire the location and secure its long term presence downtown.
Jon Walter with NAI Commercial Real Estate structured the transaction with the seller so that Iceberg could benefit from attractive SBA financing and acquire the property.
Spencer Davis at Mountain West Small Business Finance and Brian Taylor at Town and Country Bank arranged for the loan and United Title Company handled the closing.
“The transaction was a team effort that resulted in the best outcome for the local Iceberg franchise and for the Holbrook family,” said Walter.