Wendy's 2009 Annual Report Download - page 33

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Item 2. Properties.
We believe that our properties, taken as a whole, are generally well maintained and are adequate for our
current and foreseeable business needs.
The following table contains information about our principal office facilities as of January 3, 2010:
Active Facilities Facilities—Location Land Title
Approximate
Sq. Ft. of
Floor Space
Corporate and Arby’s Headquarters . . . . . . . . . . Atlanta, GA Leased 184,251*
Former Corporate Headquarters . . . . . . . . . . . . . New York, NY Leased 31,237**
Wendy’s Corporate Headquarters . . . . . . . . . . . . Dublin, OH Owned 249,025***
Wendy’s Restaurants of Canada Inc. . . . . . . . . . Oakville, Ontario Canada Leased 35,125
* ARCOP, the independent Arby’s purchasing cooperative, and the Arby’s Foundation, a not-for-profit
charitable foundation in which ARG has non-controlling representation on the board of directors, sublease
approximately 2,680 and 3,800 square feet, respectively, of this space from ARG.
** A management company formed by Messrs. Nelson Peltz, our Chairman and former Chief Executive
Officer, Peter W. May, our Vice Chairman and former President and Chief Operating Officer, and Edward
P. Garden, our Former Vice Chairman and a member of our Board of Directors subleases approximately
26,600 square feet of this space from us.
*** QSCC, the independent Wendy’s purchasing cooperative in which Wendy’s has non-controlling
representation on the board of directors, leases approximately 9,300 square feet of this space from
Wendy’s. This lease was entered into effective January 4, 2010.
At January 3, 2010, Wendy’s and its franchisees operated 6,541 Wendy’s restaurants. Of the 1,391
company-owned Wendy’s restaurants, Wendy’s owned the land and building for 634 restaurants, owned the
building and held long-term land leases for 471 restaurants and held leases covering land and building for 286
restaurants. Wendy’s land and building leases are generally written for terms of 10 to 25 years with one or
more five-year renewal options. In certain lease agreements Wendy’s has the option to purchase the real estate.
Certain leases require the payment of additional rent equal to a percentage, generally less than 6%, of annual
sales in excess of specified amounts. Wendy’s also owned land and buildings for, or leased, 220 Wendy’s
restaurant locations which were leased or subleased to franchisees. Surplus land and buildings are generally held
for sale and are not material to our financial condition or results of operations.
The Bakery operates two facilities in Zanesville, Ohio that produce hamburger buns for Wendy’s
restaurants. The hamburger buns are distributed to both company-owned and franchised restaurants using
primarily the Bakery’s fleet of trucks. As of January 3, 2010 the Bakery employed approximately 360 people at
the two facilities that had a combined size of approximately 205,000 square feet.
As of January 3, 2010, Arby’s and its franchisees operated 3,718 Arby’s restaurants. Of the 1,169
company-owned Arby’s restaurants, ARG owned the land and/or the buildings with respect to 131 of these
restaurants and leased or subleased the remainder. As of January 3, 2010, ARG also owned 15 and leased 84
properties that were either leased or sublet principally to franchisees. Our other subsidiaries also owned or
leased a few inactive facilities and undeveloped properties, none of which are material to our financial condition
or results of operations.
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