108 E Main St, Toledo, Ohio 43605
Absolute Net Wendy's Restaurant. Tenant is Meritage Hospitality Group (OTC: MHGU), with 333 restaurants in 16 states, over different brands. Over six years remaining on the original 20-year lease, with two 10 year options. Annual rent bumps of 1.75% Corner location. Annual rent of $88,876 at March 1 bump.
The subject is located at the intersection of Main Street and Front Street in East Toledo, across the river from the downtown Central Business District. The International Park and The Docks restaurant venue, both located on the riverfront, are across the street from the subject. McDonald's is on the corner to the north, and Taco Bell and Burger King are to the east on Front Street. The $45 million Marina District development, including 360 loft apartments with a restaurant and retail, is being built to the north.
- Absolute Net Lease- No Landlord Responsibilities
- Six Years Remaining with Two 10 Year Options
- Annual Rent Bumps of 1.75%
- Strong Franchisee, Meritage Hospitality Group (OTC: MHGU), 333 Restaurants
- $45 million development being built to the North
- Area of Venue Restaurants, Other National Fast Food
1/13/2020 4:55:07 PM
3/27/2020 1:16:42 PM