McDonald’s Ground Lease Property Sale Arranged Date July 10, 2019
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased McDonald’s ground lease property located at 211 East Little Creek Road in Norfolk, Virginia for $3,260,000.
The McDonald’s ground lease property is strategically located immediately off of Interstate 64 (138,000 VPD) where it has excellent visibility and easy access. The property sits at the entrance of a future development site for an apartment development. McDonald’s has been operating at this location since 1993 illustrating its commitment to this location. The McDonald’s property is well located in a retail corridor with Walmart Supercenter, Harris Teeter, Walgreens, 7-Eleven, Starbucks, Kroger, Wells Fargo and Food Lion. There are 227,341 people living within five miles of the property.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based real estate firm and the buyer is a private investor in a 1031 exchange.
“E-commerce resistant retailers including tenants in the QSR sector continue to be in high demand amongst investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant McDonald’s properties generate some of the lowest cap rates due to their impeccable credit and lease qualities.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $5 billion of single tenant net lease real estate transactions. From 2012-2018, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.comBack