Marcus & Millichap Arranges The Sale Of A 3,911sf NNN Wendy’s Location

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales has announced the sale of Wendy’s, a 3,911 square-foot net-leased property located in Louisville, KY. According to Sean Beuche, regional manager and broker of record of the firm’s Philadelphia office, the asset sold for $2,892,000.

Pavan Koneru, Steven Garthwaite, and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, secured and represented the buyer, a NY metro-based firm. “The buyers were repeat clients of the firm who were very disciplined in their acquisition approach. Considering everything that has been learned over the course of the last 12 months, this was a perfect opportunity to add a long-term lease with annual rent increases and a drive thru to the portfolio. The buyers believed in the tenant and were attracted to the real estate fundamentals especially since this asset was sitting on 1.72 acres.” said Koneru.

Wendy’s is located at 978 Breckenridge Lane in Louisville, KY. This Wendy’s location featured a 20-Year Triple Net (NNN) Lease with Zero Landlord Responsibilities. The property is surrounded by national retail tenants including: The Home Depot, Hobby Lobby, Bed Bath & Beyond, O’Charley’s, Qdoba, Red Lobster, Hooter’s, Denny’s, and McDonald’s. This Wendy’s location benefits from both strong traffic counts of over 64k VPD and a strong population of almost 240k within 5 miles. “This location stood out to the buyer due to its unique positioning within 0.5 miles of 2 interstate highways and as an outparcel to major shopping center anchored by Home Depot and Hobby Lobby.” said Koneru.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.