January 2021- Mattone Investors is pleased to announce the acquisition of 138-41 Jamaica Ave, Jamaica New York. The property is located on the corner of Queens Blvd and Jamaica Ave and is leased long term to the Briad Group which operates a Wendy’s restaurant at the location. The Briad Group operates over 110 Wendy’s locations in the Northeast.
The property was selected after an exhaustive search by the Mattone Team to satisfy a 1031 exchange requirement. The transaction, structured as a sale-leaseback, was negotiated by Aaron Fleishaker, Executive Vice President of Leasing at Mattone Investors. “The property has an excellent location and strong sales, and we are thrilled to add it to our growing portfolio” stated Michael Mattone, CEO of Mattone Investors. “We have enjoyed a great relationship with the Briad Group at one of our Brooklyn properties and we expect that relationship to continue.”