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|Current / Passing Rent||
|Remaining Term||19 years, 8 months|
JLL is pleased to offer for sale the fee simple interest in a freestanding single-tenant Wendy’s located in Chino Hills, CA. Continental Foods Management, Inc. is a franchisee of Wendy’s throughout California, and have been in business for 30 years. The tenant is located within a brand new +/-201,000 square feet mixed-use center called The Rincon, with 2 hotels (Town Suites by Marriott and Holiday Inn Express); 2 medical office buildings; 3 retail buildings; and a daycare building (Kiddie Academy). The development sits at the intersection of Chino Valley Freeway (85,000 VPD) and in close proximity to Chino Hills High School. Wendy’s is the only national QSR restaurant within this development and the only National name within the immediate vicinity.
The asset resembles Wendy’s new 2020 'Smart Building' prototype featuring high open ceilings surrounded by glass storefront. This design features the latest technology and ambiance with high definition TV’s and LED lighting along with Customer Self Ordering (CSO) kiosks for customers to place orders. Surrounding neighborhoods have flourished in the immediate vicinity with the newly developed +/- 31 acre Bristol Community with over 150 homes that sold all of their homes within the first few years of development.
- Absolute NNN lease with no landlord responsibilities
- Under 20 years of lease term remaining with four, 5-year options to renew
- 10% rental escalations every 5 years
- Chino Hills ranks as one of the safest cities in America and #38 on the “#100 Best Places to Live in America” by Money Magazine
- The 3-mile radius of the population has over 64,000 residents with an average household income over $132,000
- The 1-mile population has grown 162% since the year 2000
- Home values in the immediate vicinity begin at $500,000 with the median home values around $650,000