KFC Building, 16800 West New Highway 441, Mount Dora, FL
ORLANDO, FL – JLL Capital Markets announced it has closed the $1.64 million sale of a 2,280-square-foot, single-tenant retail building ground leased to KFC Corporation in the suburban Orlando community of Mt. Dora, Florida.
 |
| Brad Peterson |
JLL marketed the properties on behalf of the seller, SunCap
Opportunity Fund, LLC. A private investor purchased the asset.
Founded
in 1952, KFC Corporation is based in Louisville, Kentucky, and is one of the
largest fast food chains in the world based on sales and locations.
KFC, which
is considered the world’s most popular chicken restaurant chain, has operated
at this location since the building was constructed in 1988 and recently
recommitted to this location with a new 20-year ground lease.
Situated on
0.7 acres at 16800 W. New Hwy 441, the building is in Mt. Dora, a community in
Lake County’s Golden Triangle area 25 miles northwest of downtown Orlando, and
has frontage along US-441, which sees 51,000 vehicles per day.
 |
| Michael Brewster |
Renovated in 2013, this KFC is the second most visited KFC out of 19 locations within a 30-mile radius.
The JLL Capital Markets team representing the seller was led
by Senior Managing Director Brad Peterson, Director Michael Brewster
and Analyst Joseph Naas.
“The
secret recipe on this sale was a recent long-term renewal, strong sales and
excellent real estate in a growing submarket of the Orlando MSA,” Brewster
said. “Every investor should have a ‘bucket’ of capital for KFC and similar quick-service
restaurants.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales, debt placement, equity placement or a recapitalization.
 |
| Joseph Naas |
The firm has more than 3,700 Capital
Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit our newsroom.
About SunCap Opportunity Fund, LLC
SunCap Opportunity Fund, LLC invests in quality real estate in the Southeast United States focusing on assets with solid underlying fundamentals which provide both a current cash yield and income growth potential with the implementation of new management, recapitalization, and capital improvements.
SunCap's management team has closed over $2 billion of acquisitions, including
building a $500 million publicly traded international real estate fund from
1996 thru its disposition in 2010.
Contacts:
Kimberly Steele
Senior
Associate
Public
Relations
JLL
Capital Markets
9
Greenway Plaza, Suite 700
Houston,
TX 77046
T
+1 713 852 3420
M
+1 832 244 9994
George
Shea, Mark Faris
Company: Shea
Communications
Phone: +1
212 627 5766
Email: mfaris@sheacommunications.com
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