This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visithttp://www.djreprints.com.

http://www.wsj.com/articles/mcdonalds-lands-in-a-real-estate-dilemma-1440495181

Estimates for the value of real estate McDonald’s holds around the world have topped $40 billion, according to

investors and analysts. PHOTO: JUSTIN SULLIVAN/GETTY IMAGES

McDonald’s Lands in a Real-Estate Dilemma - WSJ http://www.wsj.com/articles/mcdonalds-lands-in-a-real-estate-dilemma-...

1 of 5 9/24/2016 2:52 PM

McDonald’s Lands in a Real-Estate Dilemma - WSJ http://www.wsj.com/articles/mcdonalds-lands-in-a-real-estate-dilemma-...

2 of 5 9/24/2016 2:52 PM

McDonald’s Lands in a Real-Estate Dilemma - WSJ http://www.wsj.com/articles/mcdonalds-lands-in-a-real-estate-dilemma-...

3 of 5 9/24/2016 2:52 PM

McDonald’s Lands in a Real-Estate Dilemma - WSJ http://www.wsj.com/articles/mcdonalds-lands-in-a-real-estate-dilemma-...

4 of 5 9/24/2016 2:52 PM

Copyright 2014 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. Fornon-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

McDonald’s Lands in a Real-Estate Dilemma - WSJ http://www.wsj.com/articles/mcdonalds-lands-in-a-real-estate-dilemma-...

5 of 5 9/24/2016 2:52 PM