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Tab for three Wendy’s restaurants is $7.98M
Wendy's and similar restaurants may have steadier values than other retail real estate as online shopping spreads
A portfolio of three Wendy’s restaurants in Florida, including one in Tamarac, sold for $7.98 million.
Two investment specialists in the Miami office of brokerage firm Marcus & Millichap, Ronnie Issenberg and Gabriel Britti, had the exclusive listings to market the Wendy’s locations on behalf of the Florida limited liability companies that sold them.
The unidentified buyer acquired net-leased Wendy’s restaurants in Dunnellon, Ocala and Tamarac.
Issenberg said in a prepared statement that the sellers “had multiple backup offers at ask price” for the Wendy’s locations, evidence that quick-service restaurants have steadier values than other retail properties as online shopping becomes more popular.
Marcus & Millichap expects cap rates for net-leased, quick-service restaurants remain steady for the next few quarters.
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