404 E Market St
Leesburg, VA 20176
Wendy's | Part of Portfolio | Leesburg, VA · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in this Wendy’s in Leesburg, Virginia. The Tenant, Wendy’s Properties, LLC, has over 18 years remaining on a corporately guaranteed absolute NNN lease. Wendy’s Properties, LLC is a wholly owned subsidiary of The Wendy’s Company, rated B2/stable by Moody’s. The Wendy’s Company (NASDAQ: WEN) is an international fast food chain founded in 1969. As of January 2, 2017, Wendy’s is the world’s third largest quick-service hamburger chain with over 6,500 locations, including 330 that are company-owned. This is a long established Wendy’s location and has operated since 1987. DavCo Restaurants, one of the chain’s largest franchisees, recently sold this location to Wendy’s Properties, LLC at which point Wendy’s did an assignment of the existing lease for 20-years. The Property is located in Leesburg, Virginia, 40 miles northwest of Washington, D.C. The Tenant is strategically positioned as an outparcel to Leesburg Plaza, a 229,754-square-foot Giant and PetSmart anchored center. The Tenant has prominent frontage and visibility along East Market Street (Route 7), a primary state highway and busy commuter route in Northern Virginia that averages 55,000 vehicles per day. Due to increased volume along Route 7, between Dulles and Tysons, plans have been made to make improvements, which would include widening from four to six lanes, shared-use pedestrian path and renovations to intersections. Dulles has been dubbed the “Dulles Technology Corridor”, which houses many defense and technology companies that draws more people further away from downtown Washington, D.C. The 0.64-acre-parcel is positioned at a wrap corner between a Pier 1 Imports store and Sandy Spring Bank branch. The Property has excellent ingress/egress and is cross-eased with the neighboring parcels which effectively provides several means of access to the site. The Property benefits from its location along this dense retail corridor in immediate proximity to notable creditworthy retailers Capital One, TD Bank, Bank of America, CVS and 7-Eleven and 1.5 miles west of Leesburg Corner Premium Outlets. Further, the Tenant is near to other fast food chains McDonald’s, Pizza Hut, Jimmy John’s, Popeyes and Roy Rogers. Leesburg has undergone considerable growth and development over the past 30 years, transforming from a small, rural town to a suburban bedroom community for commuters to the nation’s capital. Leesburg has seen an 85 percent increase in the three-mile population since 2000 and it’s projected to increase an additional 14 percent in the next five years. Today, it’s an affluent community with more than 56,992 people and an average household income of $147,509. Finally, this asset is unique as an investor will benefit from the fee-simple nature of this offering, which allows for depreciation and a low rental rate structure providing immense upside should the tenant vacate. The subject property is one of eight Wendy’s assets for sale. Please contact listing agent for additional locations