April 24, 2025 – Kyle Danielson and Austin Smith of Horvath & Tremblay have successfully completed the sale of a Wendy’s in Ashland, Virginia. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,100,000.
Wendy’s is located at 11650 Lakeridge Parkway in Ashland, Virginia. Wendy’s occupies a 3,415 square foot building positioned on a 1.04-acre parcel of land. Wendy’s has been at this location since 2014 and has 9+ years remaining on their absolute triple-net lease with four (4), 5-year renewal options. The lease calls for attractive rent increases every five years throughout the primary lease term and at the start of each renewal option. Wendy’s is situated along Lakeridge Road inside Winding Brook, a 185-acre mixed-use development that features retailers, restaurants, entertainment, hospitality, and residential properties. Wendy’s enjoys outstanding frontage and visibility and is seconds from Interstate 95 and US Route 1, the area’s primary commercial and commuter corridors. The Property is surrounded by densely developed business, technology and industrial parks that are home to hundreds of businesses and thousands of employees providing a robust built-in customer base. Wendy’s is also within 2.5 miles of Hanover County Municipal Airport and 4.5 miles of Interstate 295 and Randolph-Macon College.
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.