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JAE Adds 34 Wendy’s Restaurants Near Knoxville to Growing Portfolio

Large Franchisee Now Owns 212 of Burger Chain's Restaurants
March 7, 2018
One of the Wendy's included in the package at 4257 Rhea County Hwy. in Dayton, TN



Florida-based JAE Restaurant Group recently acquired 34 Wendy's restaurants from the chain's corporate owner in the Knoxville, TN market for an undisclosed price.

JAE now owns 212 Wendy’s restaurants throughout Florida, New Mexico, Texas and Tennessee, making it one of the chain's largest franchisees. The Pompano Beach, FL-based restaurant group plans to remodel all of its Wendy’s locations in Knoxville in the next four years and open an additional 10 to 12 locations.

Jhonny Mercado, co-chairman of JAE, said, "We chose to invest in the Knoxville market because it’s one of the highest growth areas in the country right now, thanks to its friendly tax environment, affordable housing, younger population and large number of university students."

As part of a system-wide optimization initiative, Wendy's is seeking to sell hundreds of its corporate-owned stores to franchisees.

For more information on this transaction, please refer to CoStar COMPS #4148610.

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