Wendy's 2011 Annual Report Download - page 27
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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 1, 2012:
ACTIVE FACILITIES FACILITIES-LOCATION LAND TITLE
APPROXIMATE
SQ. FT. OF
FLOOR SPACE
Corporate Headquarters .............. Dublin, OH Owned 249,025*
Atlanta Support Center .............. Atlanta, GA Leased 75,663
Former Corporate Headquarters ....... NewYork, NY Leased 31,237**
Wendy’s Restaurants of Canada Inc. .... Oakville, Ontario, Canada Leased 35,125
* QSCC, the independent Wendy’s purchasing cooperative in which Wendy’s has non-controlling representation
on the board of directors, leases approximately 14,300 square feet of this space from Wendy’s.
** 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.
At January 1, 2012, Wendy’s and its franchisees operated 6,594 Wendy’s restaurants. Of the 1,417 company-
owned Wendy’s restaurants, Wendy’s owned the land and building for 643 restaurants, owned the building and held
long-term land leases for 487 restaurants and held leases covering land and building for 287 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. As of
January 1, 2012, Wendy’s also owned 56 and leased 206 properties that were either leased or subleased principally 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 buns for Wendy’s restaurants and other
outside parties (including certain distributors to the Arby’s system). The buns are distributed to both company-owned
and franchised restaurants primarily using the Bakery’s fleet of trucks. As of January 1, 2012, the Bakery employed
approximately 350 people at the two facilities that had a combined size of approximately 205,000 square feet.
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