New Office


Under terms of the Development Agreement, the Company will develop 40 new Wendy’s restaurants by the end of 2024 and receive significant economic incentives provided under the Groundbreaking Incentive Program, which includes royalty and national marketing fee relief. The development and incentive programs are subject to the Company fulfilling its Joint Capital Plan to re-image 10% of its existing restaurants each year and customary Wendy’s real estate approvals. The Company plans to invest approximately $100.0 million in the development of the 40 Wendy’s restaurants through a combination of cash on hand and development credit facilities.


On September 26, 2019, Meritage opened Morning Belle in the company’s former Twisted Rooster location at 1600 E Beltline. Morning Belle, a new garden-themed breakfast, brunch and lunch concept, aims to brighten the morning for guests in Grand Rapids. “We saw the need for a fresh, new breakfast experience in Grand Rapids and developed Morning Belle to both fill that need and be expandable to other markets,” said Gary Rose, Meritage’s President and COO, “We are excited to open the first Morning Belle in Meritage’s hometown of Grand Rapids and have plans to build four additional Morning Belle locations in west Michigan in 2020.” Breakfast choices include traditional breakfast entrees, lighter options like salads and grain bowls and our own glazed donut waffle for the more indulgent palate. Morning Belle will also offer specialty beverages, including freshly squeezed orange juice and breakfast cocktails. The line-up of day-time cocktails includes mimosas, bellinis, bloody marys and four flavors of spiked cold brews.
Argyle Wendy's location


By December 31, 2019, the Company will have reimaged 19 Wendy’s restaurants. Each remodel features bold, sleek, ultra-modern designs that enhance the guest experience. The Company will have also opened 11 newly constructed Wendy's restuarants. In addition to reimaging and growth, the Company completed two acquisitions in 2019 consisting of 10 Wendy’s restaurants; 5 in Georgia and 5 in Texas.