Burger King Corporation Selects Waterford Site for its World Headquarters.Business Editors MIAMI--(BUSINESS WIRE)--July 11, 2000 Burger King Corporation announced today that it has selected a site in the Waterford Waterford, county, Republic of Ireland Waterford (wô`tərfərd), county (1991 pop. 91,624), 710 sq mi (1,839 sq km), S Republic of Ireland. The county seat is the port town of Waterford. Office complex in Miami for its World Headquarters location. The new building will be constructed at the intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. of Red Road and Blue Lagoon Blue Lagoon
"This new building came to our attention rather recently and we took some time to evaluate it versus remaining in our existing building," said Dennis Malamatinas, chief executive officer of Burger King Corporation. The new building will be approximately 210,000 to 230,000 square feet in size and will be a single occupancy building, with Burger King Corporation as the only tenant. Additionally, the Building will be named the Burger King World Headquarters Building. "We chose this site because it offers Burger King a more updated and modern infrastructure with more functionality and lower total occupancy costs Occupancy costs are the whole life costs of buildings and their associated land from occupancy until disposal. These costs may be incurred on a regular or irregular basis. Occupancy costs are those costs related to occupying a space including; rent, real estate taxes, personal than our existing building," Malamatinas said. "The upgraded features of the new building will be very important in making sure that Burger King has the right tools in place to continue growing this brand." Burger King Corporation said that it plans to remain in its existing building, located at 17777 Old Cutler Road Old Cutler Road is an off-grid plan north-south main road that runs south of downtown Miami in Miami-Dade County, Florida. The northern terminus is Cartagena Plaza (Cartagena Circle) at the edge of the Coral Gables Waterway in the city of Coral Gables. , through its current lease, which expires in September 2002. Burger King Corporation and its franchisees operate more than 11,000 restaurants in all 50 states and 58 countries and international territories around the world, with more than 92% of BURGER KING(R) restaurants owned and operated by independent franchisees. Since the company's founding in Miami in 1954, the BURGER KING(R) brand has become recognized for great flame-broiled taste and HAVE IT YOUR WAY(R) food customization. In fiscal year 1999, the BURGER KING(R) system has system-wide sales of $10.9 billion. Burger King Corporation is a part of Diageo (NYSE NYSE See: New York Stock Exchange :DEO DEO Deodorant DEO Diversification de l'Economie de l'Ouest Canada (Western Economic Diversification Canada) DEO Diversification de l'Économie de l'Ouest Canada (Western Economic Diversification Canada) ), the international food and drinks company, that includes such brands as Pillsbury, Haagen Dazs, and Guinness. To learn more about the BURGER KING(R) system, please visit the company's website at www.burgerking.com. |
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