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|Current / Passing Rent||
|Remaining Term||19 years, 8 months|
|Tenant||The Starboard Group|
|Number of units||1|
JLL is pleased to exclusively offer a net lease opportunity to acquire a fee simple interest in a single tenant, Wendy’s investment property located in Pell City, Alabama. The property is an outparcel to a large shopping center with national retailers such as The Home Depot, Cracker Barrel, Dollar Tree, Zaxby’s and Buffalo Wild Wings helping further drive consumers to the area.
Wendy’s recently executed an amendment, resulting in a 20-year term on its NNN lease. The lease features attractive, 6% rental increases every 3 years, which shall continue through the two, 10-year option periods. The operator, Starboard Group, operates over 100 Wendy’s restaurants and was ranked 32nd in the Franchise Times Restaurant Monitor 200.
- Recently extended their NNN lease to 20 years with attractive, 6% rental increases every 3 years, inclusive of their two, 10 year options
- Property is situated on Vaughan Lane and backs up to Highway 231, which boasts over 24,000 VPD and is just north of I-20, with over 52,000 VPD
- Wendy’s is the world’s 3rd largest quick-serve restaurant company in the hamburger sandwich segment with 6,700+ locations in operation as of year end 2019
- In 2015, Pell City citizens voted in favor of the legalization of Sunday alcohol sales, which projected a $6.8 million economic impact to the city, and was a main cause for the increase of retailers along I-20 and Highway 231