Wendy's Co 10-K

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, 2021: 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. Burlington, Ontario, Canada Leased 8,917 ** _____________________ * QSCC, Wendy’s independent supply chain purchasing co-op, leases 14,493 square feet of this space from Wendy’s. The Corporate Headquarters serves all of our operating segments. ** The Wendy’s Restaurants of Canada Inc. facility primarily serves the International operating segment. At January 3, 2021, Wendy’s and its franchisees operated 6,828 Wendy’s restaurants. Of the 361 Company-operated restaurants in the Wendy’s U.S. segment, Wendy’s owned the land and building for 142 restaurants, owned the building and held long-term land leases for 149 restaurants and held leases covering the land and building for 70 restaurants. Lease terms are generally initially between 15 and 20 years and, in most cases, provide for rent escalations and renewal options. Certain leases contain contingent rent provisions that require additional rental payments based upon restaurant sales volume in excess of specified amounts. As part of the Global Real Estate & Development segment, Wendy’s also owned 509 and leased 1,245 properties that were either leased or subleased principally to franchisees as of January 3, 2021. Surplus land and buildings are generally held for sale and are not material to our financial condition or results of operations. 30