July 14, 2017 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of the Wendy’s in Fort Wayne, Indiana. Horvath & Tremblay exclusively represented the seller to close the property at a sale price of $1,361,845, a 5.15% cap rate.

Wendy’s signed a twenty-year, triple net (NNN) lease which commenced in March 2016 and has 19 years of lease term remaining with two, five year options. Wendy’s lease is Corporately Guaranteed and has rental escalations of ten percent (10%) every 5 years throughout the base term and option periods. Wendy’s has occupied this Fort Wayne, IN location since 1987 and in March 2016 signed a new 20-year lease showing strong commitment to this site. Fort Wayne is Indiana’s second-largest city and is home to over 250,000 residents. Allen County, Indiana’s largest county by size, has a population of 355,000. A three-time All America City Award winner, Fort Wayne is consistently sited for our high quality of life, low cost of living and warm Hoosier Hospitality. Nearly equidistant from Chicago, Cincinnati, and Detroit, it has historically served as a transportation and communications center for Northeast Indiana, and an incubator for many products and companies.

Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.