Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2006
Building Area
Land Area

Property Description

Jones Lang LaSalle (JLL) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a single tenant McDonald’s, located in Gulf Coast Town Center in Fort Myers, FL, the 2nd largest open-air shopping center in Florida next to the #1 residential community in the nation. McDonald’s is surrounded by over 2,000 projected new residential units, 896 adjacent hotel rooms, 144 student apartments with and for expansion, a 15,000-student university, and a top 50 airport with 9.4 million passengers annually.


Located between the town center’s two grocers: Super Target is less than 800 feet south and Florida’s largest Costco is less than 1,600 feet north. McDonald’s is the highest-grossing fast food chain in the world and carries multiple investment-grade credit ratings. McDonald’s at Gulf Coast Town Center opened in 2006 and recently extended for 10 years for a total of over 16 years remaining. McDonald’s has 8% rent increases every 5 years in the base term and 10% every 5 years in each option period.

Investment Highlights

  • Over 16 years of ground lease term remaining with attractive 8% rent increases every 5 years in the base term and 10% every 5 years in the option periods
  • Absolute NNN ground lease with zero landlord responsibilities
  • Opened in 2006 with the first phase of Gulf Coast Town Center following completion of the state’s 3rd largest Super Target at the time; McDonald’s iconic Golden Arches are prominent at the Gulf Coast Main Street entrance with full right-in and right-out access along Ben Hill Griffin Pkwy
  • Only QSR with a double drive-thru in a 3.4-mile radius and the nearest competitive locations are 3.4 miles south and 4.3 miles north
  • The 1.19-acre parcel features a double drive-thru, a 3,945 square feet building, 55 parking spaces (13.9 spaces per 1,000 square feet), and over 600 feet of wraparound road frontage
Last Updated Date: 21 Oct 2020
Michael Brewster
Michael Brewster
Director, Capital Markets
License details
FL-SL3280018
Bradley Peterson
Brad Peterson
Senior Managing Director, Orlando Office Head
License details
FL-BK3162030 AL-000088844-0 GA-256948 NC-323216

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Last Updated Date: 21 Oct 2020

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