Property Details

23530 Pacific Hwy S

Kent, WA 98032

$2,500,000

Available

CBA# 711540 courtesy of CBA Listing firm: Marcus & Millichap, Inc.

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Office / Retail

Property Type

2,811

Bldg Sq Ft

2011

Year Built

Property Overview

We have 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.