Four South Jersey Wendy’s Locations Sold for $8.2 Million
A local restaurant group has sold at least four of their Wendy’s locations in South Jersey and the Philadelphia Business Journal reports that the transaction is worth more than $8.2 million in total.
The exact details are not immediately clear, but property records obtained by The Philadelphia Business Journal (shared via a partnership between PSJ and NBC10), show that an LLC tied to the Briad Group sold the at least four of their Wendy's franchises.
The properties, which were sold included Wendy’s in both Camden and Burlington counties. Those were Voorhees, Berlin, Haddon Township, and Edgewater Park.
Each location was reportedly sold to a different LLC, the site says. For more details on this, check out the Philadelphia Business Journal's exclusive reporting.
The company declined to comment on the sale, but the Briad Group owns and operates restaurants, major hotel chains, and even an outdoor lifestyle shopping center. The company’s founder Brad Hongifeld actually opened his first franchise in Princeton — Steve’s Ice Cream/Carnegie Deli in October 1987.
It's not clear when the franchises will change hands, but customers will likely notice little difference in the restaurants.