The subject property is a long term NNN leased Wendy’s located in Appleton, Wisconsin. There are 16 years remaining on the initial 20 year term. The lease is guaranteed by Starboard Restaurants - operator of 180 Wendy’s. This lease calls for zero landlord obligations and scheduled annual increases of 1.5%. The tenant also has four, 5-year options to renew. The site benefits from its location in a major retail trade area and from heavy traffic counts of 23,000 VPD along S Oneida Rd and E Meadow Grove Blvd N.