New fast food location in master-planned community sold

LAKEWOOD RANCH — A new Wendy's within the master-planned community of Lakewood Ranch has been sold for $2.69 million.

JLL Capital Markets brokered the sale, of the 0.78-acre, single-tenant parcel leased to a the fast-food chain, according to a statement. JLL marketed the property on behalf of the seller, a partnership between North American Development Group and Argosy Real Estate Partners, according to a press release. The buyer is a private investor, the release adds. 

The Wendy’s store, at 1727 E. State Road 70, will have a modern design to match the shopping center’s finishes. 

The JLL Capital Markets team that represented the seller was led by Senior Managing Director Brad Peterson and Director Michael Brewster along with Managing Director Marc Mandel and Director Steve Schrenk.

“The Wendy’s brand is iconic and has deep roots in the fast food industry,” says Brewster in the statement. “The store’s modern design will match its home in The Green at Lakewood Ranch, the premier shopping destination serving the explosive residential growth and the four million square feet of medical, life science, research, office and hotel space to be added next door at the CORE at Lakewood Ranch.”

The Wendy’s is adjacent to a prototype 7-Eleven store sold via JLL in November 2019 for $2.89 million on behalf of the partnership between North American Development Group and Argosy Real Estate Partners.