May 5, 2016 – Brian Ahrens of Horvath & Tremblay, has successfully procured the buyer to complete the sale ofMcDonald’s in Jacksonville, North Carolina. Brian worked exclusively with the local 1031 exchange buyer to fulfill his exchange requirement. The property closed at a sale price of $1,800,000, a 4.17% cap rate.
Newly constructed in 2014, McDonald’s signed a new 20-year ground lease in July 2014 which includes (6) five year options. McDonald’s is prominently located at the intersection of Gum Branch Road and Western Boulevard, two of the main retail corridors in the Jacksonville market. The property benefits from its exceptional visibility and provides convenient access to the nearly 65,000 vehicles that travel along Gum Branch Road and Western Boulevard per day. Attracting shoppers to the area is the newly constructed Northpoint Commons, a 57,500-square foot shopping center anchored by Lowe’s Foods Supermarket with additional tenants including Dunkin’ Donuts and Great Clips. Additional retailers along Western Boulevard include: CVS, AutoZone, Wendy’s, Advance Auto Parts, Food Lion and Domino’s. This up and coming area of the Jacksonville market has seen over 285,000-square feet of new retail development within the past two years attracting local and regional shoppers to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Recently recognized by Globe Street and Real Estate Forum as one of the “Top 20 Retail Sales Brokers” in the Industry, our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. We have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges.