The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant McDonald’s ground lease located at 3151 South Dirksen Parkway in
Springfield, IL for $766,080.
McDonald’s is the sole occupant of the
property that was developed in 1975. The property is located on a 37,409 square
foot parcel along South Dirksen Parkway. The property benefits from its
proximity to the signalized intersection of South Dirksen and Stevenson Drive,
which has a combined traffic count in excess of 32,000 vehicles per day. The
property is located one-quarter mile from the Interstate 55 exit ramp. The property is fully leased to McDonald’s
with over four years of lease term remaining.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented both parties in the
transaction. The seller was a private
trust based in the Midwest and the buyer was an investor based in Philadelphia.
McDonald’s has four
years of lease term remaining on a ground lease that commenced in 1975.
McDonald’s is a publicly traded company on the New York Stock Exchange (MCD),
with a market capitalization of $96 billion. McDonald’s is an investment grade
rated company with a Standard & Poor’s rating of A and they have over
34,000 locations.
“The market for McDonalds’s ground leased properties remains
active as these assets are in high demand among private investors” said Randy Blankstein, President of
The Boulder Group. Jimmy Goodman,
Partner of The Boulder Group, added, “As there is a
limited amount of long term core assets on the market, some net lease investors
are seeking assets like quick service restaurants with shorter term leases.”
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 $1.6 billion of single tenant net lease real estate transactions. For 2011-2013, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
