May 17, 2018 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of Wendy’s in Jamestown, New York. Horvath & Tremblay represented the seller to close the property at a sale price of $1,867,960, a 5.05% cap rate.
Wendy’s has been in occupancy and operating at the Property since 1999. In 2016, the tenant entered into a new 20-year lease term through March 2036. The absolute triple-net lease has 18+ years remaining with two, 5-year tenant renewal options. Both the initial term and renewal terms call for a 10% rent increase every five years. The Wendy’s lease is fully guaranteed by the full faith and credit of Wendy’s corporate parent company. The Property is prominently located on East 2nd Street (State Route 394) which serves as the primary roadway connecting downtown Jamestown with I-86 to the northeast. The Property also benefits from its proximity to Jamestown Community College, a two-year college with an enrollment of 4,100 students, located 0.4 miles from the Property.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.