July 12, 2019 – Kyle Danielson and RJ Tuller of Horvath & Tremblay have successfully completed the sale of Wendy’s in Santa Maria, California. Horvath & Tremblay procured the 1031 exchange buyer to complete the transaction at a sale price of $2,620,000, a 4.35% cap rate.
The brand-new Wendy’s restaurant is located at the north west corner of Preisker Lane and N Broadway in Santa Maria. The built-to-suit restaurant is comprised of 3,329-square feet, located on a 0.98-acre parcel. This Wendy’s is operated by an experienced Wendy’s operator who operates multiple restaurant franchises including 82 Taco Bell, 94 Wendy’s and 10 Pieology restaurants. The lease is subject to a brand-new 25-year ground lease with 10% rental escalations every 5 years with four, 5-year renewal options.
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.