March 29, 2022 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Wendy’s in Richmond, Virginia. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,219,089.
The Wendy’s is located at 4609 Williamsburg Road in Richmond, Virginia (the “Property”). Wendy’s has operated at the Property for over 40 years (since 1982), and the Absolute NNN Lease has 19 years of term remaining followed by five (5), 5-year renewal options. The lease features 10% rental increases every five years through the base term and renewal options. The Property enjoys outstanding visibility and frontage and benefits from 2 points of access and prominent signage along Williamsburg Road (US Route 60), which sees more than 15,000 vehicles per day and connects downtown Richmond with the Richmond International Airport, which is just 1.5 miles away. Wendy’s is also just 1.5 miles from Interstate 64, 2 miles from a Coca-Cola bottling facility, and 2.5 miles from Highland Springs High School. The area is also home to numerous national retailers including Target, Publix, Kroger, Walgreens, CVS, Hardee’s, IHOP, McDonald’s, KFC, and Dollar General.
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.