Marcus & Millichap closed the sale of a McDonald’s ground lease in Ada, Ohio. The asset sold for $915,000, which was reflective of a 3.97 percent cap rate.
The sale was led by CJ Jackson, first vice president, and Erin Patton, senior managing director, along with Scott Wiles and Craig Fuller, senior managing directors and partners of the Patton | Wiles | Fuller Group of Marcus & Millichap in the firm’s Columbus and Cleveland offices, respectfully. The team had the exclusive listing to market the property on behalf of the private Ohio-based seller, and sourced multiple offers to find the buyer who ended up paying seven percent over list price to obtain the asset.
This McDonald’s is located at 132 S. Main St. in Ada and had about seven years remaining on the corporate guaranteed ground lease.
The Patton | Wiles | Fuller Group of Marcus & Millichap has had a strong 2021 with more than $350 million of shopping centers and net-leased real estate sold. These 80 properties comprise more than 4.1 million square feet throughout 18 states.
