Tenant: Wendy’s
Premises: 3177 SF
Renewal Options: 5 x 5
Lease Expiration: 15 Years
Lease Type: NNN
Rental Increases: 6.5% Every 5 Years
The Sands Investment Group announces the opportunity to purchase fee simple Wendy’s location in Palmdale, CA. This is a sale leaseback transaction from the Wendy’s operator who has been at this location since 2000. The store has consistently produced over $2M in sales and is one of the highest producing fast food restaurants in this market. A new lease will be signed at the close of escrow for a (15) year term with (5) options to extend for an additional (5) year period.
Wendy’s is an American international fast food chain restaurant founded by Dave Thomas on November 15, 1969, in Columbus, Ohio, United States. The company moved its headquarters to Dublin, Ohio, on January 29, 2006. As of March 1999, Wendy’s was the world’s third largest hamburger fast food chain with approximately 6,650 locations, following Burger King’s 12,000+ locations and McDonald’s’ 31,000+ locations. On April 24, 2008, the company announced a merger with Triarc, the parent company of Arby’s. Despite the new ownership, Wendy’s headquarters remained in Dublin. Following the merger, Triarc became known as Wendy’s/Arby’s Group, a publicly traded company. Approximately 77% of Wendy’s restaurants are franchised, the majority of which are located in North America. Wendy’s and its affiliates employ more than 47,000 people in its global operations. In fiscal year 2006, the firm had $2.469 billion (USD) in total sales
