Quantum Real Estate Advisors, Inc. has just completed the sale of a freestanding 2,158-square-foot Wendy’s located at 2401 N. Illinois Rte. 23 in Streator, Illinois. The property sold to a private investor based in Dubuque, Iowa for $1,574,000. The seller was a Chicago-based developer who specializes in net lease development.
This was a brand new, 20-year lease with Wendy’s that delivered in late 2019. Dan Waszak, senior vice president, represented the seller and Zack Hilgendorf, senior vice president of Quantum Real Estate Advisors, Inc., represented the buyer in the transaction.
“The buyer was looking to put some excess cash to work and with limited inventory of long-term net lease deals under $2,000,000 we were able to achieve excellent pricing,” Hilgendorf said.
“We were able to generate multiple offers to drive pricing on this asset for the seller,” Waszak said. “The robust demand for this asset shows the continued strength in the service-oriented, net lease market.”
