This newly constructed 2025 build-to-suit Wendy’s offers investors a premier net lease opportunity in the heart of Tempe, AZ, part of the Phoenix MSA. The property is supported by a new 20-year absolute NNN lease that provides completely passive ownership. The tenant, Arizona Restaurant Company, LLC—Wendy’s largest franchisee in the state—operates 40+ Wendy’s units in Arizona and over 190 locations nationwide under The Holland Company. With contractual rent increases of 10% every five years and four additional 5-year options, this property delivers stable income growth and long-term security. Strategically located at 109 S. Perry Lane, the 2,490 SF freestanding QSR sits on 1.25 acres along the high-traffic Rio Salado Parkway corridor, with visibility to over 133,000 vehicles per day from the nearby Loop 101 and 202 freeways. The site is directly across from Tempe Marketplace, one of Arizona’s busiest lifestyle centers, attracting 12.9 million visitors annually. It is also less than 1.5 miles from Arizona State University’s Tempe campus, which is home to more than 55,000 students, and is surrounded by major national retailers including Target, Sam’s Club, JCPenney, Best Buy, and Nordstrom Rack. The property benefits from strong demographics and robust economic growth within the Tempe market. The area features a population exceeding 189,000 with an average household income of more than $93,600 within three miles. Significant nearby developments include the $1.8 billion South Pier luxury mixed-use project on Tempe Town Lake and the Novus Innovation Corridor adjacent to ASU, which together are adding millions of square feet of office, retail, residential, and hospitality space. Coupled with proximity to major employers such as State Farm, Wells Fargo, Carvana, and Honeywell, this Wendy’s location is positioned for long-term success in one of Arizona’s most dynamic and rapidly growing submarkets.