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A 314-Store Wendy's Franchisee Just Filed for Bankruptcy. The DealGround Data Is Fascinating.

DealGround data shows the net-lease market was pricing in Meritage Hospitality's bankruptcy long before the 314-store Wendy's franchisee filed for Chapter 11 on Sept. 17. Nearly 30 Meritage-operated Wendy's have come to market since last October, and about a third took price cuts that pushed asking cap rates from the 5s into the 6s. The six stores that sold before the filing went to private LLCs and family trusts, not institutions.
September 23, 2026
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Alex Esber
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A shuttered Wendy's restaurant with a commercial real estate For Sale sign out front

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