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Chicago & Midwest  + Greater Chicagoland  |  March 2, 2020
Paul Bubny
By: Paul Bubny

Quantum Sells Newly-Built Wendy’s in Net Lease Deal

Quantum Real Estate Advisors completed the sale of a freestanding 2,158-square-foot Wendy’s located at 2401 N. Illinois Rte. 23, Streator, IL. The property sold to a private investor based in Dubuque, IA for $1,574,000.

The seller was a Chicago-based developer that specializes in net lease development. This was a brand new 20-year lease with Wendy’s that delivered in late 2019. SVPs Dan Waszak and Zack Hilgendorf represented the seller and buyer, respectively.

“The buyer was looking to put some excess cash to work, and with limited inventory of long-term net lease deals under $2,000,000 we were able to achieve excellent pricing,” said Hilgendorf.

Waszak added, “We were able to generate multiple offers to drive pricing on this asset for the seller. The robust demand for this asset shows the continued strength in the service-oriented net lease market.”

Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Quantum’s Hilgendorf and Waszak

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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