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NORTHBROOK, Ill., May 4, 2021 /PRNewswire/ -- Envoy Stable Income Fund, LLC (ESI Fund), a private real estate fund company, has acquired a Wendy's quick service restaurant in Grand Ledge, Michigan under a long-term lease. This marks the first acquisition for the ESI Fund.
Envoy Net Lease Partners
Located at 980 E. Saginaw Highway in Grand Ledge, the 3,595 sq. ft. Wendy's restaurant building is 100% leased to an affiliate of Team Schostak Family Restaurants, a Wendy's Franchisee. The tenant operates over 50 Wendy's restaurants primarily in Michigan. The Grand Ledge Wendy's restaurant has been in continuous operations since 1997 and plans to renovate soon. The property is adjacent to the entrance of a new 320-unit luxury apartment complex, The Acadian, which plans to open this summer.