A private real estate company, Vista Real Properties, Inc., based out of California, paid $1,695 million for the ground underneath a McDonald’s at 5617 Michigan Road in Indianapolis.
Jordan Klink and Ben Sullivan of The Klink Group of Marcus & Millichap were retained as exclusive advisors to market the property on behalf of the seller, MMK MCD LLC, an Indiana limited liability company. The property sold for a 4.25 percent capitalization rate. The offering generated a significant amount of interest from private investors from all over the United States.
McDonald’s is operating under a long-term, triple-net ground lease. The property benefits from its prime location along Michigan Road, a major north and south thoroughfare that runs directly into downtown Indianapolis. Nearby retailers include Starbucks, Walgreens, Verizon Wireless and a recently built Walmart Neighborhood Market adjacent to the subject property.