September 22, 2023 – Kyle Danielson and Hill Kanellos of Horvath & Tremblay have successfully completed the sale of Wendy’s in Powhattan, Virginia. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1,400,000.
The Wendy’s is located at 1792 South Creek One in Powhattan, Virginia. Wendy’s was constructed in 2006 and has a 3,288 square foot building on a 1.19-acre parcel. Wendy’s has 17+ years remaining on their Absolute NNN lease with five (5), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary term and renewal options. The Property is well located adjacent to the signalized intersection of South Creek One and Anderson Highway (US Route 60), the area’s primary commercial and commuter corridor with traffic counts in excess of 29,000 vehicles. Wendy’s occupies a pad site to a Food Lion anchored center and is surrounded by the area’s national retailers, all of which drive traffic to the immediate area. Wendy’s also enjoys convenient access to the area schools, providing a built-in customer base.
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.