Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a 5-year absolute net ground lease Wendy's in Kent, WA. Wendy's just exercised a 5-year lease renewal extending the lease through September 30, 2031, with two additional 5-year options and 10% rent increases at each renewal — all under an absolute net ground lease with zero landlord responsibilities. The lease is guaranteed by Burger Management Systems Washington, Inc. (61 WA locations), and operated by WTC Ventures, a 45+ year Wendy's franchisee with 100 locations across Washington state and British Columbia. Built-to-suit in 2011 and fully renovated in 2022 to Wendy's current prototype, the site reflects 15 years of continuous occupancy and long-term tenant commitment. The property is a pad to a top 2% nationally ranked Fred Meyer (1.7M annual visits, per Placer.ai) and is situated at a signalized hard corner on Pacific Hwy S/Hwy 509 (30,000+ VPD) at the Fred Meyer shopping center's main entrance. The surrounding trade area includes 213,000+ residents within 5 miles, average household incomes of nearly $108,000, strong population growth — all in income tax-free Washington state.