Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction.
Northbrook, IL -- (SBWIRE) -- 01/15/2014 -- 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.”
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. In 2012 and 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