The Boulder Group, a net leased investment
brokerage firm, has completed the sale of a single
tenant McDonald’s ground lease located along East Market Street in Harrisonburg,
VA for $1,350,000.
The McDonald’s property is strategically
located along East Market Street less than a half mile from Interstate 81. The
new construction McDonald’s property is located across the street from Valley
Mall, which is anchored by JCPenney, Belk, Dick’s Sporting Goods, and Target. The property is fully leased to McDonald’s
and will have twenty years of lease term remaining upon rent commencement. The
lease features 10% rental escalations every five years throughout the primary
lease term and renewal option periods.
Randy Blankstein
and Jimmy Goodman of The Boulder Group represented the buyer and the seller in
the transaction. The buyer was a trust in a 1031 exchange and the seller was a
Southeast based development company.
McDonald’s will
have twenty years of lease term remaining upon rent commencement. McDonald’s is
a publicly traded company on the New York Stock Exchange (MCD), with a market
capitalization of $93 billion. McDonald’s is an investment grade rated company
with a Standard & Poor’s rating of A and has over 34,000 locations
worldwide.
“The market for ground leases with investment grade tenants
remains strong as investors are attracted to the typical long term leases with
rental escalations.” said Randy
Blankstein, President of The Boulder Group. Jimmy Goodman, Partner
of The Boulder Group, added, “The market for McDonald’s ground leases
remains active as investors are attracted to investment grade tenanted
properties with long term leases under $2 million dollars.”
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 $1.6 billion of single tenant net lease real estate transactions. From 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.
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. From 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.
http://bouldergroup.com/NNN-Properties-For-Sale.html
