Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Lease Type NNN
Current / Passing Rent
Lease Expiration 2040-05-31
Remaining Term 19 years, 7 months
Tenant The Starboard Group
Building Area
Land Area

Property Description

Jones Lang LaSalle Americas, Inc (JLL) is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant, NNN lease, Wendy’s, investment property located in Jacksonville, AL. The tenant, Wendy’s, recently executed an amendment, resulting in a 20-year lease term on its NNN lease. The lease features attractive, 6% rental increases every 3 years, which shall continue through the two, 10-year option periods.

Additionally, this location is just 0.2 miles away from Jacksonville State University – a public, state university with more than 9,000 students and a business school that is among the best in the country, according to the Princeton Review.

Investment Highlights

  • 19.5+ years remaining on their NNN lease with attractive, 6% rental increases every 3 years, inclusive of their two, 10 year options
  • Situated on N Pelham Road (Route 21) – the main strip in Jacksonville, AL with 22,000 VPD and inclusive of many nationally recognized retail tenants such as Walmart, Walgreens, CVS, Verizon and AT&T
  • Wendy’s is the world’s third largest quick-serve restaurant company in the hamburger sandwich segment with more than 6,700 locations in operation as of year end 2019
  • Located just outside of Jacksonville State University’s campus (0.2 miles away) – a public, state university with an enrollment of roughly 9,000 students
  • It is 11 miles away from their next closest store, generating a sense of scarcity which will ultimately lead to a larger consumer base 
Last Updated Date: 04 Sep 2020
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218

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Last Updated Date: 04 Sep 2020

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