July 29, 2022 – Luke Thomson and Joseph Pellecchia of Horvath & Tremblay have successfully completed the sale of Wendy’s in Cheraw, South Carolina. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,213,000.
The Wendy’s is located at 875 Chesterfield Highway in Cheraw, South Carolina. Wendy’s has successfully operated at the Property for over 20 years and signed a 20-year extension in 2018 demonstrating their commitment to the site and the market. Wendy’s has 16+ years remaining on their Absolute NNN Lease with three (3), 5-year renewal options. The lease features 8.5% rental increases every five years through the base term and at the start of each renewal option. Wendy’s is operated by the Carolina Restaurant Group, a 140+ unit operator. The property is well located along Chesterfield Highway (SC Route 9), the area’s primary commercial corridor. Wendy’s is surrounded by national retailers including Walmart Supercenter, area schools including Northeastern Technical College, Cheraw High School, Cheraw Intermediate School, and Long Middle School, and numerous industrial facilities including two Schaeffler facilities, a Carolina Canners facility, and Highland Industries.
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.