McDonald's to Unload Some Property

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Oak Brook, Illinois--In a rare move, McDonald's Corp. said it would unload some of its hefty real estate holdings as part of a broad-based revitalization plan. It's unclear exactly how much real estate McDonald's holds, or what its present value may be. However, the company has long owned key pieces of U.S. and overseas properties that it has leased to franchisees. The announcement coincides with recent moves to slash corporate staff at McDonald's corporate headquarters as well as consolidating regional offices and jobs. Many of those positions were in the company's real estate divisions. -CBS.MarketWatch.com

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