Ground + Space today announced the sale of a Wendy’s property in Winter Park, Florida. Michael Zimmerman exclusively marketed the property, which sold within four percent of the asking price to an all-cash 1031 buyer. This listing garnered multiple offers thanks to the property’s strong corporate quick-service restaurant (QSR) tenant, the world’s third-largest hamburger fast food chain.
This property is a prime example of a stable, COVID-safe asset that requires no landlord maintenance. The Wendy’s Ground lease features a corporate guarantee, multiple five-year renewal options and scheduled 10 percent rental increases. The new in-line concept features a drive-thru lane and is adjacent to a SimonMed Imaging location. The site is less than one mile from the popular Park Avenue shopping district, the city’s new SunRail station and the Valenica College Winter Park campus.
Wendy’s benefits from its prime location less than five miles from the heart of downtown Orlando, Florida. The city has long been a popular tourist destination, attraction more than 75 million people from around the globe in 2018 alone. Major attractions within easy driving distance from the site include Walt Disney World Resort, Universal Orlando Resort, SeaWorld Orlando and LEGOLAND Florida Resort.
About Ground + Space
Ground + Space is a net lease brokerage firm that leads with an emphasis on personalized relationships. Michael Zimmerman and team have curated a brokerage firm and investment sales platform focused on boutique amenities and down-to-earth service. During these uncertain times, Ground + Space remains dedicated to providing best-in-class services and results to our clients. We have several listings available featuring retailers that are in a prime position to succeed in a post-pandemic economy. Contact us today to find out more!