October 17, 2017 – Brian Ahrens, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a Wendy’s in Monaca, PA. Horvath & Tremblay procured the 1031 exchange buyer to close the property at a sale price of $1,700,000, a 5.68% cap rate.
Wendy’s fully occupies a 2,568-square foot retail building located along Golfview Drive, a major retail corridor in Monaca. The property is ideally situated with easy access to heavily traveled Route 18 with high traffic volume in excess of 19,875 vehicles per day. Located directly across the street from the property is the Beaver Valley Mall, a 1.15 million square foot regional mall servicing the regional area. Additional tenants located along Route 18 include: Walmart Supercenter, Target, Lowe’s, Kohl’s, Marshalls, Ross and PetSmart. Located directly adjacent to the property are Mattress Firm, Advance Auto Parts and Dollar Tree. This Wendy’s location is operated by a 30+ unit franchise operator and has a 40-year operating history at this location. As a commitment to this location Wendy’s underwent an Image Activation in 2014 to upgrade to a sleeker, more contemporary image to enhance customer experience. Wendy’s has over 18 remaining on the base term of the triple net lease with one, 5-year option, one, 4-year option and one, 6-year option.
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, 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.