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|Current / Passing Rent||
|Remaining Term||19 years, 7 months|
|Tenant||The Starboard Group|
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.
- 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