New McDonald’s Property For Sale

An online listing notes that the sale is a “rare opportunity to acquire a single tenant ground lease” at the location at 16403 Detroit Avenue — the former home of the Detroit Theatre.

The Golden Arches, walls and windows aren’t even up yet, but the location of is already for sale. 

The — the Lakewood-based company that owns the land — has the property listed on the market for $1.75 million.

An online listing notes that the sale is a “rare opportunity to acquire a single tenant ground lease” at the location at 16403 Detroit Avenue — the former home of the .

McDonald’s does not own the land, but rather has signed a 20-year lease with options for additional years — as many as 30 years.

One official said that the deal “doesn’t change anything on the ground,” because the is still the operator.

The new fast-food chain, moving from the Sloane Avenue location, would be a franchise store run by that same group, said Mike Lewis, the project manager for the Lakewood McDonald's. 

“We don’t care who owns it,” said Lewis. “We run our business the same way — no matter who owns the property. We usually prefer to own our property, but sometimes we don’t have the option.”

Dru Siley, the city’s director of planning and development, said he was surprised by the news.

He said it’s not uncommon for a McDonald’s property to be put on the market, “but often you’ll see that when it’s complete.”

The restaurant is expected to open by Halloween.

Charles Milsaps July 27, 2012 at 05:02 PM
So, McDonalds did not buy the Detroit Theater? They never owned it? Then who were those people representing “McDonalds” at the public meetings? Did the Detroit Theater sell directly from Norman Barr to The Zaremba Group? More proof the demise of The Detroit Theater was well orchestrated and WE, The residents of Lakewood were lied to through this entire process.
M-F Schreiber July 28, 2012 at 01:29 PM
So are we to understand a commercial developer/property management firm [Zaremba Group] owned this property, signed a 20-year lease with option to extend another 10 years with McDonald's, worked through Lakewood Planning/Development for well over a year to get the construction of the McDonald's franchise approved to turn around and flip it to another property management firm? Why? Aren't they getting enough rent from McD's lease? How many other properties does Zaremba Group own in Lakewood that they are seeking to profit from in a similar way is what we should be asking? I believe they were involved in new CVS construction. Aren't they also doing plaza renovation downtown?
Keith Model August 23, 2012 at 01:45 PM
It's all a scam. A bunch of behind the scenes deals. I will not comment on anything but it's not hard to figure out. Shame on the city for allowing it also.
louisvuitton September 27, 2012 at 06:34 AM
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