McKinley Acquires KFC NNN Lease in Orange City, FloridaMarch 9, 2018
ORANGE CITY, FLORIDA - McKinley acquires KFC located in Orange City, Florida, as it continues to exit from retail real estate and migrates into an all Multifamily platform along with a select portfolio of high quality investment grade NNN leases.
KFC on Saxon Blvd is located in a robust retail corridor surrounded by major retailers such as Target, Walmart, Publix, Home Depot and Lowe’s across from the Florida Hospital Fish Memorial. The corridor traffic is bustling with activity situated conveniently nearby I-4. Orange City is the center of economic activity in Southwest Volusia County part of the Interstate 4 corridor that serves the growing metropolitan areas located between Orlando and Daytona Beach.
Comerica Bank provided acquisition financing for this specific transaction as it has been doing for McKinley as part of a major loan facility provided for McKinley’s NNN acquisition effort. “This is an excellent NNN asset that we have added to our portfolio,” offered Jim Willett Senior Vice President & Managing Director – Finance. “It’s also located in our core I-4 Corridor concentration which makes it a natural choice for us,” added Willett.