Osprey, FL - Wendy's

Description:

• The tenant has 14 years remaining on an original 15-year ground lease with 3 (5-year) options to extend
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation
• 2024 construction which features high quality materials, distinct design elements, and high-level finishes
• Wendy’s and its franchisees employ hundreds of thousands of people across over 7,000 restaurants worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand

• Wendy’s is an outparcel to a Walmart Supercenter and has ideal frontage along S Tamiami Trail (44,500 VPD)
• Tamiami Trail is the southernmost 284 miles of U.S. Highway 41 from State Road 60 (SR 60) in Tampa to US 1 in Miami
• There are a handful of new developments underway in Osprey such as Alton Osprey, a 252-unit upscale multifamily project with completion scheduled for early 2026
• Upon delivery, the luxury community will consist of five three-five story residential buildings spread across 8 acres. Units are set to include one-, two- and three-bedroom layouts, ranging from 740 to 1,492 square feet
• Just South of Palmer Ranch, a 7,000-acre community with 20,000+ residents and 90+ subdivisions, providing a direct consumer base from which to draw
• Bay Street now connects to South Palmer Ranch, allowing for additional access to the subject site