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|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 property leased to Wendy’s (the “Property”) in Oxford, AL. Wendy’s recently executed an amendment, resulting in a 20-year lease 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. Wendy’s is the world’s third largest quick-service restaurant company in the hamburger sandwich segment. As of year end 2019, there were 6,788 Wendy’s restaurants in operation (of these, 357 were operated by the Company). Further, the Company reported revenue of $1.7B. Per QSR Magazine, Wendy’s has the 4th highest average sales per unit in its peer set. The operator, Starboard Group, operates over 100 Wendy’s restaurants and was ranked 32nd in the Franchise Times Restaurant Monitor 200.
- Wendy’s Restaurants has been at the location since 1997 and recently executed an amendment, extending their NNN lease to 20 years with attractive, 6% rental increases every 3 years, inclusive of their two (2), ten (10) year options
- The Property is situated at the intersection of I-20- a significant artery for the southern portion of the U.S., and SH-431; The restaurant’s exceptional location as well as the surrounding hospitality and retail amenities will ensure it’s longevity for a growing population
- Wendy’s is the world’s third largest quick-service restaurant company in the hamburger sandwich segment; Wendy’s is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving high quality food
- Historic Downtown, the heart and core of the city, is currently undergoing a streetscape transformation into an inviting, pedestrian – friendly destination, estimated at a cost of $3 million; This project is an ongoing investment toward the revitalization and preservation of downtown
- The property is in close proximity to one of Honda Motor Company’s U.S. manufacturing plants that sits just outside of the metro’s boundaries with many of its 4,500 employees residing in Oxford metro area; From 2016 to 2017, employment in Oxford grew at a rate of 0.785%, from 9.42K employees to 9.5K employees