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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 Tuscaloosa, AL. 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. 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 2012 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 sits at the confluence of Old Birmingham Highway and University Blvd, a well-traversed intersection with just under 15,000 VPD; The Property is surrounded by many unique demand drivers including The University of Alabama Arboretum and the Tuscaloosa Veterans Affairs Medical Center
- 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); The Company reported revenue of $1.7B
- Tuscaloosa is consistently ranked as one of the most livable and entrepreneurial communities in the country; Established on February 6, 1818, one year before Alabama became a state, Tuscaloosa is the second largest county in the State in terms of area, 1,351 square miles, and the City of Tuscaloosa is the county seat
- The property is in close proximity to one of the nation’s premier institutions for higher learning and research. Founded in 1831, University of Alabama is one of the largest universities in the Southeast and the city’s largest employer with 11,347 employees, of which 1,175 are full-time faculty; It is home to more than 38,563 students and boasts one of the Best College Football Teams in the country