Morgan Property Group, LLC is pleased to announce the acquisition of land at the northeast corner of South Boulevard and Starbrook Drive in Charlotte for the development of a new McDonald’s restaurant. McDonalds will relocate from their existing store on Arrowood Road to the west of this site.
MPG, through its affiliate Four Names Realty, LLC, acquired 1.20 acres at this intersection on January 15, 2015 for a purchase price of $1,515,000 from Shastri and Associates, LLC. McDonald’s USA, LLC has executed a long-term ground lease with Four Names Realty, LLC. This development will feature a 4,446 sq.ft. building and dual drive-thru lanes. Grey Hanna of The Chambers Group represented the buyer in this transaction.
“It is exciting to see McDonald’s moving to a new location that will not only better serve its customers traveling along South Boulevard, but also increase their visibility,” said Jeff Surrency, MPG’s Executive Vice-President of Development. “We wish them much success at their new location and are proud to be part of this development.”
For over thirty-seven years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping centers, multi-tenant buildings, and single-tenant projects anchored by a variety of national and regional retailers. The company and its affiliates are developing multiple retail, mixed use, and medical development projects throughout the Mid-Atlantic and Southeast. To find out more, follow Morgan Property Group on Facebook and Twitter @MPG_Development or visit our website at www.morganpg.com.
McDonald’s is the world’s leading global foodservice retailer with over 35,000 locations serving approximately 70 million customers in over 100 countries each day. More than 80% of McDonald’s restaurants worldwide are owned and operated by independent local business men and women. For more information, visit www.mcdonalds.com.