Orlando, Fla - April 30, 2019 – CBRE announced today it has arranged the $2,400,000 sale of a McDonald's NNN ground lease in Kissimmee, Florida. Located at 1720 Celebration Blvd, the NNN asset transacted at well below market 3.5% cap rate. CBRE’s James Mitchell, Mark Drazek and Ray Romano represented the seller, DCS Real Estate Investments III, in the transaction.
“This is a brand-new McDonald’s construction and the asset received wide interest from the national investment community,” said James Mitchell, executive vice president at CBRE. “We generated several back up offers, and we are pleased with delivering a fantastic result for our client, the seller.”
Randall Greene, local partner of DCS Real Estate Investments III, said, “the CBRE team exceeded our expectations in every facet if this transaction. I have sold many single-tenant net lease investments, and our group has never achieved a 3.5% cap rate for this type of asset. This must be a record-breaking cap rate, so kudos to CBRE in achieving this superior result for our team.”
The property was built in 2018, with a 20-year fee simple NNN ground lease to McDonald’s. The property is uniquely positioned just minutes from the world’s top theme parks, with more than 85 million visitors per year. Celebration, Florida is a $2.5 Billion master planned community designed to be a true “live, work, and play” city.
“This is a brand-new McDonald’s construction and the asset received wide interest from the national investment community,” said James Mitchell, executive vice president at CBRE. “We generated several back up offers, and we are pleased with delivering a fantastic result for our client, the seller.”
Randall Greene, local partner of DCS Real Estate Investments III, said, “the CBRE team exceeded our expectations in every facet if this transaction. I have sold many single-tenant net lease investments, and our group has never achieved a 3.5% cap rate for this type of asset. This must be a record-breaking cap rate, so kudos to CBRE in achieving this superior result for our team.”
The property was built in 2018, with a 20-year fee simple NNN ground lease to McDonald’s. The property is uniquely positioned just minutes from the world’s top theme parks, with more than 85 million visitors per year. Celebration, Florida is a $2.5 Billion master planned community designed to be a true “live, work, and play” city.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
