Arizona’s first Burger Theory, a build-your-own burger restaurant concept, opened its doors to the public in Central Phoenix this past weekend following the purchase and renovation by Caliber, The Wealth Development Company. Burger Theory is a part of the Holiday Inn & Suites Phoenix Airport North included in the successful Caliber Distressed Real Estate Income Fund (CDIF) responsible for purchasing and renovating the hotel and restaurant property.
“We have been told that Caliber’s design on this restaurant will set the franchise development standard for Burger Theory concepts moving forward in the West,” says Chris Loeffler, CEO of Caliber. “We believed the area was in need of a great restaurant concept such as this. With the Burger Theory opening, it will assist our Holiday Inn & Suites to achieve and exceed its $1.7 Million food and beverage revenue budget. It is Caliber’s goal to always meet or exceed investor expectations.”
Burger Theory and the Holiday Inn & Suites Phoenix Airport North are one of the many properties purchased through the multi-investor fund, CDIF, LLC. At over $27 million in total capital raised, Caliber closed the fund one year earlier than anticipated, exceeding its original target of $25 million in capital. Caliber’s positive economic impact continues to contribute to Phoenix’s growing real estate market and the investment in Burger Theory will further expand Phoenix’s economy.
The Burger Theory concept was developed by Holiday Inn and the Intercontinental Hotel Group, offering business travelers and vacationing families a unique and comfortable dining experience along with the highest quality of ingredients. Burger Theory provides guests with an exceptional and diverse menu, from build-your-own burgers with an array of toppings to salads, wings and signature entrees. The restaurant also offers a great breakfast, well received in only the first few weeks of operations.
The 3,600-square-foot restaurant is adjacent to the Holiday Inn & Suites Phoenix Airport located at 4401 East McDowell Road, off of 44th Street and McDowell. It is the first Burger Theory location with a patio and has access from 44th Street, McDowell Rd, and the hotel courtyard.