Buyer to construct Wendy’s restaurant on Trinity Plaza parcel
Davenport, Fla. (October 23, 2019) – Ali Mushtaq, senior advisor at SVN Florida, has coordinated a $1.2 million sale of commercial property in the economically thriving community of Davenport, Fla. The buyer is Wen-Acquisitions, LLC, an affiliate of the JAE Restaurant Group that owns and operates Wendy’s restaurants.
The 1.51 acres of Trinity Plaza are at the intersection of N. Highway 27 and Student Drive. The buyer will construct a new Wendy’s restaurant on the site.
“Davenport is on fire, with explosive growth and a lot of development – homes, town homes, apartments,” said Mushtaq. The SVN Florida advisor managed the deal for seller Suresh Gupta, owner and CEO of Square Park Homes.
According to Sperling’s Best Places to Live, the Polk County city will see job growth of nearly 44 percent over the next 10 years. Much of the community’s economic strength lies in the high-tech industry, although lodging is also notable – Davenport is only about 10 miles from Disney World in Orlando.
The Trinity Plaza sale includes two parcels, one of which is pending with another retailer that is expanding in the market. Four are still available for sale. The acreage fronts Trinity Ridge, which contains 77 single-family homes that Square Park Homes has constructed. “It’s another great development by Suresh Gupta,” Mushtaq said.
Several retail tenants are continuing to set up shop along Highway 27, he added, making the remaining parcels attractive for potential buyers. Among the many retail options suitable for the properties are climate-controlled storage, a carwash and a gas station.
“These are all good possibilities for the property, all consistent with the ongoing expansion here,” Mushtaq said. “We’re seeing a good mix of retail tenants in the immediate area and we anticipate significant demand for the remaining parcels.”
Ken Zeszutko, Z Corp. PR, 321-213-1818 / [email protected]