Hanley Investment Group Real Estate Advisors has arranged the sale of a brand new, single-tenant McDonald’s ground lease at Southern Dunes Commons at Wellingshire in Indianapolis, Indiana.
The property sold to a private 1031 exchange investor based in Northern California for $1.95 million, representing a 4.10% cap rate. Hanley Investment Group’s Executive Vice President Dylan Mallory, in association with ParaSell, Inc., represented the sellers, Wellingshire Partners LLC and Midland Atlantic Properties, Inc. The buyer was represented by Mehdi Star from Net Lease Exchange based in the San Francisco Bay Area.
The McDonald’s is located at 2326 West Southport Road Drive in Indianapolis and is part of Southern Dunes Commons at Wellingshire, a new mixed-use development positioned directly off Interstate 69. The property features a new 20-year absolute triple-net ground lease, corporate-guaranteed by McDonald’s Corporation.
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