Two Wendy’s locations were sold in Jacksonville.
CrownPoint Partners announced the successful closing of two separately owned Wendy’s properties in Jacksonville, Florida, totaling $4 million in transaction volume. The two properties closed within 90 days of one another, with CrownPoint Partners representing both sides of each transaction.
The first transaction involved the $2.2 million sale of a Wendy’s, which closed late Spring. The off-market transaction was sourced by CrownPoint Partners, which represented both the private investor Seller based in Virginia and the Florida-based developer Buyer. Both parties are repeat CrownPoint clients.
The property is secured by an absolute net lease with approximately 12 years remaining and is operated by Meritage Hospitality Group. The property is strategically positioned as an outparcel to Oakleaf Town Center, anchored by Target and The Home Depot.
“This transaction is a great example of the value we can create by leveraging relationships on both sides of a deal,” said Shannon Bona, Managing Partner and Co-Founder of CrownPoint Partners. “Because both the Buyer and Seller were repeat clients, we understood their respective objectives and were able to bring together the right parties for an off-market transaction that made sense for everyone involved.”
The second transaction involved the $1.8 million sale of a vacant Wendy’s, formerly occupied by the same operator Meritage Hospitality group. CrownPoint Partners represented both the Buyer and Seller, with the Buyer being a repeat CrownPoint client.
“Executing two Wendy’s transactions in the same market within a 90 day period speaks to the depth of our relationships and our ability to work across different investment profiles,” Bona continued.
Together, the two transactions represent $4 million in investment sales and demonstrate CrownPoint Partners’ ability to navigate complex transactions, both occupied and vacant in top tier markets in the nation. The closings also reflect the brokerage’s continued work with repeat clients on both the acquisition and disposition sides of commercial real estate transactions.
