IRVINE, Calif., October 25, 2017 – Faris Lee Investments has completed the $3.5 million absolute NNN ground lease sale of a single-tenant freestanding retail building occupied by McDonald’s in Atlanta, GA.
Director Scott DeYoung and Senior Managing Director Jeff Conover of Faris Lee Investments represented the Atlanta-based seller, CT Investments. The all-cash buyer, Johnson City, TN-based Quality Properties, was represented by Mitch Cox Realty. The transaction closed at a 4.14 percent cap rate and a price per square foot of $793.
Built in 2016, the property totals 4,411-square feet and is situated on 1.1 acres at 2772 Chamblee Tucker Road.
“McDonald’s-occupied properties are highly sought after,” said DeYoung. “Despite the lease being one with no rent increases over its remaining 19-years, the buyer liked its stability and long-term cash flow.”
The property is located in the Atlanta suburb of Chamblee and situated at a signalized intersection of Chamblee Road and Interstate 85. It is also located near Emory University and benefits from a residential population of more than 300,000 and a day-time employee base of 175,000 within a five-mile radius.
About Faris Lee Investments: Faris Lee Investments is a leading retail advisory and investment sales firm. The company’s high-level retail investment advisors and sophisticated financing experts develop forward-thinking strategies for all retail acquisitions and dispositions and guide clients through complex transactions. Cumulatively, Faris Lee’s leadership has been involved in more than $20 billion of transactions. Faris Lee's senior advisors are skilled in disposition and acquisition strategies, asset positioning and valuation, marketing, debt and equity structuring, strategic workout and REO solutions and execution. For more information, visit www.farislee.com.