Feb. 16, 2021 – JLL Capital Markets announced today that it has closed the $4.4 million sale of a 3,945-square-foot single-tenant retail building ground leased to the highest-grossing fast-food chain in the world in the southwest Florida community of Fort Myers.
JLL marketed the property on behalf of the seller, North American Development Group. A private investor acquired the asset.
The tenant is the No. 1 highest-grossing fast food chain in the world, serving nearly 69 million customers daily in approximately 120 countries. The Fort Myers property is situated on 1.19 acres at 17800 Ben Hill Griffin Pkwy. within Gulf Coast Town Center, the second-largest open-air shopping center in Florida, and adjacent to Miromar Lakes Beach & Golf Club, the No. 1 residential community in the nation. The property has exposure to more than 22,500 vehicles per day along Ben Hill Griffin Parkway, and the area has four new residential projects in development or under construction, which will add thousands of new residents to the immediate area. Completed in 2006, the building is the only one within a 3.4-mile radius with a quick-service restaurant tenant featuring a double-drive through.
The JLL Capital Markets team that represented the seller was led by Senior Managing Director Brad Peterson, Director Michael Brewster and Analyst Joseph Naas.
“Capital continues to gravitate toward real estate safe havens such as this iconic tenant located in a market with leading residential and commercial growth,” Brewster said. “The Fort Myers metro was fourth in the nation for net migration over the past decade, and we expect that trend to continue.”
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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