Wendy's (Ground Lease) 905 Douglas Munroe Blvd 2,589 SF 4-Star Retail Building Cle Elum, WA 98922 $3,489,800 CAD ($1,347.93 CAD/SF) 5% Cap Rate

Northmarq presents the opportunity to acquire a newly constructed Wendy’s ground lease, part of the high-visibility Cle Elum Crossing development completed in 2023. The asset benefits from a long-term ground lease with 18 years of remaining term and structured rent growth through 10% increases every five years, including during each of the four 5-year renewal options.
Strategically located directly off I-90 Exit 84, Wendy’s enjoys strong visibility and accessibility along one of Washington’s most heavily traveled corridors, with traffic counts exceeding 37,000 vehicles per day. Cle Elum serves as the primary rest and service stop for motorists crossing Snoqualmie Pass, enhancing the site’s long-term viability as a quick-service restaurant location.
The Wendy’s is operated by a well-capitalized franchisee with a footprint of more than 90 locations across Washington and British Columbia, providing added operational security.
The property is co-located with Starbucks and Les Schwab, and is shadow-anchored by a high-performing Safeway, which reported over 1.1 million annual visits and ranks in the 76th percentile nationally, according to Placer.ai. With the nearest national grocer 25 miles away, this center serves as a critical retail and service hub for Cle Elum and the broader Upper Kittitas County region.