Tuesday, February 17, 2015

Marcus & Millichap arranges sale of two north carolina wendy’s properties

  
Wendy's, Kernersville, NC and High Point, NC
  
Roee E. Ben-Moshe

 KERNERSVILLE, NC, Feb. 17, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of two Wendy’s properties in Kernersville and High Point, NC.  

The 1,554-square foot Kernersville property sold for $2,400,000 and the 4,206-square foot High Point property sold for $1,500,000.

Gabriel Britti and Ronnie Issenberg, vice president investments, and Roee E. Ben-Moshe, an associate, in Marcus & Millichap’s Miami office represented the seller, a limited liability company from Memphis, TN.  Allen Smith, broker, assisted in closing the transactions.

The Kernersville property, located at 1468 NC Highway 66 South, was purchased by a private investor from California. 

The High Point property, located at 2710 South Main Street, was purchased by a limited liability company from Ardmore, PA. The buyer was secured by Mark Taylor, a first vice president investments in Marcus & Millichap’s Philadelphia office, and Dean Zang, a first vice president investments in the Washington D.C. office.

Ronnie Issenberg
The Wendy's properties have absolute-net 20-year leases with zero landlord responsibilities. 

In July of 2014, NPC signed a brand new lease which includes 10 percent rent increases every five years with four five-year options. 

The lease is absolute-net in nature, with no landlord responsibilities.


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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