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Current Inventory

20 Year Wendy's Ground Lease - The University of Akron

275 East Market Street, Akron, OH, 44308
  • Agent(s):
    Kyle Hartung , Jeff Sabo
  • Name:
    20 Year Wendy's Ground Lease - The University of Akron
  • Address:
    275 East Market Street, Akron, OH, 44308
  • Total SF:
    2,350
  • Lot Sizes:
    0.76 Acres
  • Option:
    For sale
  • Category:
    Investment Sales

» Full Offering Memorandum

Details

For sale to qualified investors is a new 20 year ground lease with Wendy’s. The store is operated by Wenco LLC, who has 63 Wendy’s throughout Ohio, Indiana, and Michigan, including 22 units in Akron that guaranty the lease. Opened 4th quarter 2020, this new Wendy’s is a relocation of a 20-year-old store that they chose to move when the location became available. The new location sits directly across the street from the University of Akron and just around the corner from the Stark State College Akron Campus. Between the two schools, enrollment is over 26,000 students and faculty. The property sits just a block from the State Route 8 Highway Interchange (over 100,000 VPD), and has over 21,000 cars passing the site daily. The new location in this thriving Downtown Akron market not only gives Wendy’s access to the university and college campus, but also corporate headquarters for First Energy and Gojo (makers of Purell). Additionally, the area is home to healthcare facilities service over 1,000,000 people, including the Summa Health Akron Hospital, Akron Children’s Hospital. Akron Sports Medicine Center, and the Cleveland Clinic Akron General Hospital. Downtown Akron has over 50,000 employees working daily.

Location

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