1604 Chestnut St Philadelphia, PA 19103

This commercial property in Center City Philadelphia features a new 20-year NNN lease with McDonald’s USA, LLC, scheduled to commence in March 2026. The lease incorporates 10% rental increases every five years, with a 15% increase in year 6. The property is a relocation store, returning McDonald’s to this corridor nearly five years after a fire led to the demolition of their previous Market Street location. The property has 17 feet of frontage and is near the southwest corner of 16th Street, surrounded by retail, office, residential, and tourist activity. The location benefits from high foot traffic and proximity to Rittenhouse Square, the Central Business District, City Hall, and the Theater District. The intersection of 16th and Chestnut records the highest pedestrian counts in Center City, with an average daily pedestrian volume of 28,860. The property is visible to vehicular and foot traffic and has transit connectivity, with multiple SEPTA rail lines and bus routes. The offering provides depreciation benefits, allowing for the depreciation of improvements. McDonald’s occupies the property at an at-market rental rate. McDonald’s is a leading quick-service restaurant brand, operating over 40,000 locations across over 100 countries, with systemwide sales exceeding $120 billion annually. The company is publicly traded on the New York Stock Exchange (NYSE: MCD) and maintains an investment-grade credit rating (S&P: A). The property size is 2780 square feet.