April 27, 2022 – Brian Ahrens of Horvath & Tremblay has successfully completed the sale of Wendy’s in Lawrence, Massachusetts. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,038,257.
The Wendy’s is located at 55 Hampshire Street in Lawrence, Massachusetts. Wendy’s has successfully operated at the Property for over 20 years, and completely remodeled the store in 2019 demonstrating their commitment to the site and the market. Wendy’s executed a 15-year sale leaseback at the close of escrow. The Absolute NNN Lease is followed by four (4), 5-year renewal options. The lease features 7.5% rental increases every five years through the base term and renewal options. The property is well located within the dense downtown district of Lawrence, MA with a population over 137,000 within a 3-mile radius. Positioned on the corner of Common Street and Hampshire Street, Wendy’s sits directly across from the United States Postal Service Center and a few blocks west of Lawrence General Hospital, a 189-bed medical center which has been serving the community for over 150 years. The Property is 0.3-miles from MA Route 28 and 1.5-miles from Interstate 495, two of the primary commuter corridors serving Lawrence.
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.