The property, which is on East 17th St., closed at a 5.9% cap rate and a sales price of $312.60 per sf. Both of the buildings in the two-building project were 100% leased at the time of the sale, with Wendy's on a primary lease that expires in January 2007. The Wendy's is a wood frame and brick building and the two-story mixed-use building is of wood frame with wood exterior. Wendy's occupies about 23% of the space in the project.
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