Asking Price
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Asking Price
NOI Net Operating Income
Cap Rate

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Key Facts

Year Built 1999
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Land Area

Property Description

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 in Oxford, AL. Oxford is located in the southernmost region of Calhoun County and parts of northern Talladega County with a population over 21,000 residents. In 2014, Oxford was one of three cities in Alabama selected to become a Designated Main Street community. Since then the community has been working diligently to make downtown the hive of activity it once was.

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. It is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving high quality food. 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. The property is situated adjacent to Interstate 20 - a main corridor in the area which features 8 traffic lanes and more than 170,000 VPD; and is less than a mile and a half away from Quintard Mall, that includes excellent anchor tenants such as JCPenney, Dillard’s along with Amstar Cinemas and Sportsmania.

Investment Highlights

  • Wendy’s Restaurants has been at the location since 2012
  • Recently extended their NNN lease to 20 years
  • Rental increases of 6% every 3 years, inclusive of their two, 10 year options
  • Situated adjacent to Interstate 20 with more than 170,000 VPD
  • World’s third largest quick-service restaurant company in the hamburger sandwich segment
  • 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 
Last Updated Date: 27 Aug 2020
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218

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Last Updated Date: 27 Aug 2020

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