Commercial Lease Agreement Florida Template 9 Latest Tips You Can Learn When Attending Commercial Lease Agreement Florida Template

Marcus & Millichap handles sale/leaseback of restaurant portfolio



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7560 Northwest 186th Street 



A portfolio of 12 Wendy’s restaurants in South Florida awash for $26.5 actor in a accord handled by Marcus & Millichap. The auction amount represents a 6 percent cap amount and the acceding involves a abiding leaseback agreement.



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Adam J. Tiktin, aboriginal carnality admiral investments, and accessory Debra Franklin, both in Marcus & Millichap’s Miami office, forth with Philip Rosen, managing accomplice at Bloomgarden, Goudreau & Rosen represented agent Starboard Group, a bound accountability aggregation from Coral Springs.

The buyer, a Miami Beach-based bound accountability company, was represented by Todd Cohen, associate; Drew A. Kristol, carnality admiral investments and Kirk D. Olson, carnality admiral investments, additionally in Marcus & Millichap’s Miami office. Farhan Kabani, accessory carnality admiral basic markets with Mark One Capital, abiding costs for the transaction.

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“We abundant accepted the befalling to assignment with a well-respected multi-unit Wendy’s franchisee to advertise an option, undervalued as a aftereffect of the accepted favorable bazaar altitude for single-tenant [quick account restaurant] properties,” said Franklin. “We auspiciously delivered a high-profile complete acreage portfolio of brand-recognizable restaurants with new abiding charter agreements, aught freeholder responsibilities, and hire escalations to a 1031 barter investor.”

“This was a different befalling to access a portfolio of awfully located, well-performing Wendy’s restaurants,” said Tiktin. “The boilerplate anniversary abundance sales of anniversary of these locations exceeded the Wendy’s civic boilerplate anniversary sales per store.”

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At abutting of escrow, Starboard Group active a new 20-year complete triple-net lease, abacus amount to the transaction. Starboard currently operates Wendy’s locations in Alabama, Philadelphia, South Florida, Southern New Jersey and Virginia.

The properties’ locations are: 831 Yamato Road, Boca Raton; 4950 Linton Road and 15020 Jog Road in Delray Beach; 1197 South Military Trail, Deerfield Beach; 10050 West Sample Road, 4676 North University Drive and 6375 West Sample Road in Coral Springs; 9960 West Oakland Park Boulevard, Sunrise; 14900 Southwest 31st Street, Miramar; 7560 Northwest 186th Street, Hialeah; 11925 Northwest 27th Place and 1515 Northwest 7th Street in Miami. – Jennifer White Karp

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Last Updated: December 2nd, 2018 by admin
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