Net Leased Wendy’s Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale leaseback of a single tenant Wendy’s restaurant located at 2962 Kirk Road in Aurora, Illinois for $2,608,695.

The 2,336 square foot property is strategically positioned along Kirk Road (36,100 VPD), which serves as the main retail corridor for the surrounding area. The subject property benefits from its location as an outparcel to Walmart. Additional national retailers nearby include Walgreens, Starbucks, Dunkin’, McDonald’s, Chipotle, Panera, Taco Bell, Domino’s, Goodwill, Advance Auto Parts, Verizon, BP, Take 5, and Physicians Immediate Care.

The property is located within the Chicago MSA, ranked #3 in the United States by population. There are over 181,000 people living within 5 miles of the property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is an Illinois-based private corporation and the buyer is a New York-based private real estate investor.

The brand new 20-year lease is NNN and features 10% rental escalations every 5 years. The property has a robust rent-to-sales ratio and is occupied by an established franchisee.

Wendy’s was founded in 1969 by Dave Thomas in Columbus, Ohio. Wendy’s is best known for its made-to-order hamburgers, using fresh, never frozen beef. Today, Wendy’s and its franchisees employ hundreds of thousands of people across more than 7,000 restaurants worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand.

“QSR assets with nationally recognized tenants continue to attract private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Long term leased assets with rental escalations are at the forefront of real estate demand.”

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