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.
“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 Anne Perrault, Director in Stan Johnson Company’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.
