|Last Updated Date||16 Mar 2020|
Single tenant Wendy's located in Paoli, PA.
- JLL Capital Markets, Net Lease is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant, NNN lease, Wendy’s (the “Property”), investment property positioned on the “Main Line” in Paoli, PA – one of the most prominent suburbs of Philadelphia, PA. The tenant, Wendy’s, the third-largest quick serve restaurant company in the hamburger sandwich segment, has 13 years remaining on their lease with rare, 2% annual rental increases. The increases are inclusive of their two (2), ten (10) year options, and there is no landlord responsibility connected to the offering. The Property is located on an attractive corner parcel on W Lancaster Avenue (US - Route 30), the main retail corridor of the entire Suburban Philadelphia region, and one of the most sought after for both consumers and retailers alike.
- Wendy’s, which is publicly traded (Nasdaq: WEN) and has a ‘B Stable’ credit rating (S&P), is best known for its made-to-order square hamburgers, using fresh never frozen beef, freshly-prepared salads, and other signature items like chili, baked potatoes and the Frosty dessert. Today, Wendy’s and its franchisees employ hundreds of thousands of people across more than 6,700 restaurants worldwide. According to the Q1 2019 report, global, systemwide sales were north of $2.59 billion, a 2.3% increase from the prior year.
- The Paoli and Main Line communities are home to the most affluent populations in Greater Philadelphia. Chester County, which includes Paoli, is consistently ranked as one of the top counties for the highest median income in the state of Pennsylvania. The large amount of discretionary income enables retailers to generate strong sales, and in turn, pay higher rents. The average household income within a 3-mile radius of the subject Property is nearly $177,000 and is calculated from a population of approximately 80,000 people.
Managing Director, Capital Markets
PA - AB068236 DE - RS-0019936 NJ - 0894218
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