McDonalds’ breaks ground on Carefree Highway at 54th Street. The food giant, which purchased the 1.5 acre parcel back in 2015, will make this opening the 213th McDonalds’ restaurant in Arizona. The subject parcel is located on the north side of the Carefree Highway just east of Jiffy Lube. It is one of the very few parcels in the area to sport a mature Joshua tree.
Most consumers think of McDonalds‘ as a burger chain, but in the business world, McDonalds’ is considered a real estate company.
While the brand has sold more than one billion hamburgers to patrons around the world, 85% of its stores are owned by franchisees. Franchisees pay to use McDonalds’ brand name, its standard operating procedures, and its trademarked menu items. However
unlike most other franchises, McDonald’s owns the land the stores are built on.
Between the burgers and the land, McDonald’s makes considerable more of its money on the land.
McDonalds’, headquartered in Oakbrook, Illinois operated or franchised 40,275 restaurants worldwide in 2022, and globally it serves 69 million people per day. The latest commercial development to follow the Sprouts’ opening will be the 213th McDonalds’ in Arizona.
Another fast food company, Popeyes Louisiana Kitchen, purchased in 2021 a one acre parcel of land adjacent to Burger King, and went so far as to get Town of Cave Creek site approval. The Popeyes’ Corporation however neglected to act on the building permit within the required twelve month period, so as a result would need to reapply if/when they decide to develop the parcel.