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| Anne Perrault |
WEBSTER, TX -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the ground lease sale of 534 El Dorado Boulevard in Webster, Texas, a southeast suburb of Houston.
The
single-tenant retail property is occupied by McDonald’s. Anne Perrault
and Ryan Butler of Stan Johnson Company represented the seller, a
California-based private investor.
A 1031 exchange buyer from Houston, Texas purchased
the asset at a 3.72 percent cap rate, setting a new state record for the lowest
reported cap rate for a McDonald’s property. The purchase price was not
disclosed.
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| Ryan Butler |
“This was a very competitive process, and we ultimately
selected a high-net-worth investor local to the property who was represented by
an outside broker,” said Perrault, Director in Stan Johnson's Tulsa, Oklahoma headquarters.
“Overall, it
was a very smooth transaction and closing, and we could not be happier for our
client.”
The 5,344-square-foot quick service restaurant was
originally built in 1989 and was fully renovated in 2020. The updated property
features dual drive-thru lanes and is situated on nearly one acre in a robust
retail corridor.
The site is less than a mile from Interstate 45 and
just minutes from NASA’s Johnson Space Center.
CONTACT:
David Ebeling
Ebeling Communications
(949) 278-7851
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