MIAMI—A portfolio of six Wendy's restaurants has traded in a franchise sale leaseback deal. Financial terms of the deal were not disclosed.

The Issenberg - Britti Group of Marcus & Millichap's Miami office, which includes vice president of Investments and director of the National Retail Group Ronnie Issenberg and associate vice president Gabriel Britti, represented the seller, a Florida private restaurant holding company. The buyer was not disclosed.

Due to short supply of net leased assets with corporate guaranteed leases here in South Florida, coupled with the continued strong demand by local, national and foreign investors for area commercial real estate, strong franchisee guarantees are demanding equally aggressive CAP rates, Britti says.

“This portfolio was an incredible opportunity for the purchasers to acquire six South Florida, in-fill, sale-lease-back Wendy's restaurants located throughout Miami-Dade County,” says Issenberg. “The properties were delivered with new 15-year absolute triple net 'no landlord responsibility' leases signed at the closing.”