NNN McDonald's Sells Like Hotcakes
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|When a net-lease property whose tenant is McDonald’s comes on the market, investors bring cash. Land leased to McDonald’s came on the market recently in Santa Ana, notes Hanley Investment Group’s Jonathan Selznick who, with Pacific Commercial Investments’ Chris Rodriguez, repped the seller. It was the first such offering in Orange County in more than five years. The property fetched about $2.8M at a 4.25% cap rate. Just a year ago, cap rates around 5% were the norm for such properties in California, Jonathan says.|