November, 5, 2019 – Chris King and Matthew Nadler of Horvath & Tremblay have successfully completed the sale of a Wendy’s in Brookhaven, Pennsylvania. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,233,156, a 5.45% cap rate.
Wendy’s is located at 3521 Edgemont Avenue in Brookhaven. Constructed in 2001, the stand-alone building consists of 3,000 square feet and sits on 0.90 acres of land. Wendy’s signed a new 15-year triple net lease at close of escrow. The lease features 1.5% annual increases, and has eight, 5-year option periods. Wendy’s is well located, along a dense retail corridor and enjoys close proximity to several area Universities (less than 3 miles away). Additionally, there are more than 217,000 people within a five-mile radius.
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.