The UNM Board of Regents has approved a ground lease for a new Wendy’s restaurant located on Gibson near the I-25 on-ramp on UNM's South Campus.
JAAB Restaurant Holdings, LLC, which has the Wendy’s franchise rights for New Mexico and currently operates approximately 40 stores in New Mexico and El Paso, Texas, will lease 1.1891 acres of land from the university for an initial term of 15 years with four, 5-year options to extend for increasing amounts. The anticipated opening is spring 2016.
“This segment of the Gibson Boulevard corridor has emerged as a restaurant and service hub providing a number of new options for area residents, students, commuters, and attendees of events held at the various sports venues, “ said UNM Director of Real Estate Tom Neale.
Wendy’s will be the first tenant of a five-lot commercial subdivision created by Lobo Development Corporation as part of the plan to accommodate a fire station in this part of the City. It is our intent to attract a variety of other commercial users to this rapidly expanding submarket. Wendy’s is a great addition to the existing mix of restaurants along Gibson.”
This project is part of a Lobo Development master plan to develop a portion of the South Campus into a retail and commercial district to support UNM long term goals. Lobo Development hopes to eventually make the South Campus area near Wise Pies Arena and University Stadium into a sports entertainment district.