Former Pick N Save Grocery Store
Milwaukee, WI
Price: $4,900,000Cap Rate: Building SF: 60,969 SFLot Size: 7.02 AcresYear Built: 2005Status: Under Contract

Investment Highlights: 

Acquisition Brings Credit Enhancement  – The property is leased to Roundy’s Supermarkets, Inc., who is now a wholly owned subsidiary of Kroger Co., greatly enhancing Roundy’s credit and reducing their overall debt position.

Dominant Grocers in the Region – Pick N Save is the dominant grocer in Southeastern Wisconsin and Roundy’s Supermarkets, Inc. (NYSE: RNDY) has over 150 locations throughout the Midwest.

Long Term Lease with Rent Growth – The 20-year lease (9+ years remaining) features attractive 9% rent increases every 5 years (next increase on 1/1/2020).

Shadow Anchored by Menards – The property is shadow anchored by Menards, a home improvement company with 280 stores located throughout the Midwest.

Strategic Location – The subject property is located in Granville Station, which is home to the most concentrated base of industrial employment in Wisconsin.

Dense Trade Area – Affluent Demographics – There are more than 145,000 people reside within a 5-mile radius of the subject property, with an Average HH Income over $71,000.


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977