October, 2019 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of Wendy’s in Newark, New York. Horvath & Tremblay exclusively represented the seller in the transaction that closed at a sale price of $2,018,590, a 5.48% cap rate.
Wendy’s is located at 510 West Union Street in Newark. Constructed in 1997, the stand-alone building consists of 3,052 square feet and sits on 0.68 acres of land. Wendy’s has 17-years remaining on an absolute triple net lease. The lease features 10% increases every five years throughout the base term and the two, 5-year option periods. Wendy’s is well located, along a dense retail corridor that serves the village of Newark.
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.