Wendy's 2014 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 December 28, 2014:
ACTIVE FACILITIES FACILITIES-LOCATION LAND TITLE
APPROXIMATE
SQ. FT. OF
FLOOR SPACE
Corporate Headquarters .............. Dublin, Ohio Owned 324,025*
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 14,333 square feet of this space from Wendy’s.
At December 28, 2014, Wendy’s and its franchisees operated 6,515 Wendy’s restaurants. Of the 957
company-owned Wendy’s restaurants, Wendy’s owned the land and building for 444 restaurants, owned the building
and held long-term land leases for 310 restaurants and held leases covering land and building for 203 restaurants.
Wendy’s land and building leases are generally written for terms of 15 to 20 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 December 28, 2014, Wendy’s also owned 230 and leased 488 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. The buns are distributed to both company-owned and franchised restaurants primarily using the
Bakery’s fleet of trucks. As of December 28, 2014, the Bakery employed approximately 320 people at the two facilities
that had a combined size of approximately 205,000 square feet.
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