February 14, 2018
McKinley acquires Walmart NNN lease located in DeBary, 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.
Debary on the northern shore of the St Johns River is the gateway to southwestern Volusia County with direct access to I-4 and US Highway 17/92 and serves as a corridor between Orlando, Sanford and Daytona Beach. The newly built 41,117 square foot Walmart is located with easy access to I-4 directly off of US-17 in a primary commercial corridor, minutes away from Central Business District of West Volusia County.
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 another excellent investment grade 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.