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| Wendy's, 3801 West Broward, Plantation, FL |
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| Ronnie Issenberg |
PLANTATION, FL -- Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced the sale of an absolute triple-net
leased Wendy’s located in Plantation, Fla.
The asset sold for $3,156,050
representing a 5 percent CAP rate.
Ronnie Issenberg, a vice president investments, Gabriel
Britti, an associate vice president investments, and Roee E. Ben-Moshe, an
associate, in Marcus & Millichap’s Miami office, had the exclusive listing
to market the property on behalf of the seller, a limited liability company
from Boca Raton, Fla.
The buyer was a
limited liability company from Boynton Beach, Fla.
“This sale-leaseback opportunity enabled an investor to
acquire an absolute triple net-lease Wendy’s with zero landlord
responsibilities,” says Issenberg. “Not only does the asset have a strong
guarantee by an experienced and fast-growing operator but the property is
scheduled for the new Wendy’s prototype remodel.”
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| Roee E. Ben-Moshe |
At close of escrow, the existing Wendy's operator signed a
brand new 20-year absolute triple-net lease which included seven and a half
percent increases every five years with four five-year options.
Wendy's is located at 3801 West Broward in Plantation, Fla.
For a complete
copy of the company’s news release, please contact:
Kirk A. Felici
First Vice President/Regional Manager
Miami, FL
(786) 522-7000
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