About the Property

The subject property is located in the southwest outparcel to Palm Coast Landing at Town Center, a Super Target anchored power center on the northeast corner of the intersection of Belle Terre Parkway and State Road 100. The subject propertyis brand new, class “A” construction and is located within the Town Center at Palm Coast. The Center at Palm Coast is a 1,600-acre mixed-use development which will feature approximately 2,600 new dwelling units and a Publix-anchored neighborhood shopping center, along with the Super Target Shopping Center. The demographics within this area are projected for very high growth within the next several years. The average household income is expected to grow 14% by 2012. In addition, the population within a 3 mile radius of the subject is expected to grow 63.33% by 2012. Some of the other national tenants in the surrounding area include: Ross, Michael’s, TJ Maxx, PetSmart, Famous Footwear, Walgreens, Prosperity Bank and First Community Bank.

Tenant

McDonald’s Corporation (NYSE: MCD) is the world’s largest chain of fast-food restaurants, primarily selling hamburgers, chicken, french fries, milkshakes and soft drinks. More recently, it also offers salads, fruit, snack wraps, and carrot sticks. The business began in 1940, with a restaurant opened by siblings Dick and Mac McDonald in San Bernardino, California. Their introduction of the “Speedee Service System” in 1948 established the principles of the modern fast-food restaurant. The present corporation dates its founding to the opening of a franchised restaurant by Ray Kroc, in Des Plaines, Illinois on April 15, 1955, the ninth McDonald’s restaurant overall. Kroc later purchased the McDonald brothers’ equity in the company and led its worldwide expansion.

With the successful expansion of McDonald’s into many international markets, the company has become a symbol of globalization and the spread of the American way of life. Its prominence has also made it a frequent subject of public debates about obesity, corporate ethics and consumer responsibility.

Detail Information

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