May 14, 2024 – Bob Horvath, Todd Tremblay, Matt Nadler, and Jason Woods of Horvath & Tremblay have successfully completed the sale of a new construction Wendy’s in Bridgeport, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,271,379.
Wendy’s is located at 500 North Avenue in Bridgeport, Connecticut. The new construction Wendy’s has an absolute triple-net corporate ground lease with a 20-year base term with one (1), 10-year and two (2), 5-year renewal options. The lease calls for attractive 12% rent increases every five years throughout the primary lease term and the renewal options. The Property is situated at the signalized intersection of North Avenue (US Route 1) and Lindley Street and is positioned less than 500 feet from the exit 4 on/off ramp of the CT Route 8/25 Highway which sees more than 77,000 vehicles per day. More than 21,900 vehicles pass the Property daily at the intersection of North Avenue (US Route 1) and Lindley Street. The new construction Wendy’s is 0.75-miles from Price Rite, the area’s primary grocery store, and 1-mile from Central High School, one of the largest high schools in the state. The Property sits in the middle of a business/enterprise zone that is surrounded by high-density, urban infill residential neighborhoods.
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.