The Boulder Group recently sold a new McDonald’s ground lease located along Grand River Avenue in the Detroit MSA for $1.35 million.
McDonald’s is the sole occupant of the property that features a 4,500-square-foot building. The 1.39-acre parcel is located along a stretch of road that sees traffic counts of more than 21,000 vehicles a day.
Randy Blankenstein and Jimmy Goodman of the Boulder Group represented the seller, a Chicago-based investment firm. The buyer was a high-net-worth investor in a 1031 exchange based in California.