January 31, 2023 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of Wendy’s in Buffalo, New York. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $1,666,667.
The Wendy’s is located at 969 McKinley Parkway in Buffalo, New York. The new construction Wendy’s has an absolute triple-net ground lease with a 20-year term and four (5), 5-year renewal options. Both the initial term and renewal options feature attractive 10% rent increases every five years. The Property is well located at the signalized intersection of McKinley Parkway and Almont Place and is positioned less than 1,000 feet from the intersection of US Route 62 in a densely populated residential and commercial neighborhood. The new construction Wendy’s is within 1-mile of several area schools (including South Park High School), the Tesla Gigafactory 2, the Niagara Frontier Food Terminal, Mercy Hospital – Buffalo, and several grocery stores and national retailers that drive traffic to the area. The Property is well positioned in the southern portion of Buffalo and is approximately 3-miles from Buffalo’s Central Business District and the shores of Lake Erie.
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.