2018 Construction – Brand New NNN Leases – Desirable National Tenants: Jimmy John’s (Drive Thru), Sport Clips, AT&T (NYSE: T) – The Franklin Shops is 100% leased to national tenants Jimmy John’s, a restaurant chain with 2700 locations across 23 states; Sport Clips, a national hair care franchise with more than 1600 locations in all 50 states in the U.S. and Canada; and AT&T, a Fortune 10 company and a world leader in communications, media and entertainment, and technology.
Shadow Anchored by Walmart Supercenter & Sam’s Club – Outparcel to Hobby Lobby – Retail Synergy – The Property is a newly constructed red brick building located on an outparcel to Hobby Lobby and shadow anchored by a Walmart Supercenter & Sam’s Club. Surrounding national tenants include Menard’s, Aldi, Lowe’s, Home Depot, Wendy’s, Starbucks, Planet Fitness, Durham’s Sports, Walgreen’s, Goodwill, Chili’s, and many more, offering outstanding retail synergy.
High Visibility Location (30,000+ CPD) – Desirable South 27th Street Retail Corridor – Excellent Demographics – The subject property offers frontage along Hwy 241/S. 27th St (30,000+ CPD), between W. College Ave & W. Rawsome Ave, which offer quick access to the on/off ramp to Interstate 94/41. This strategic location allows the center to pull from over 210,000 people within a 5-mile radius of the property offering a wide-ranging labor pool and outstanding customer draw to the trade area.
The South 27th Street Corridor is a six-mile stretch of South 27th Street between College Ave and County Line Rd, which has undergone coordinated planning between the cities of Franklin and Oak Creek to create a preferred destination for developers, businesses, residents and the greater community, and a projected $2 billion in revenue.
New Triple-Net (NNN) Leases – Minimal Landlord Responsibilities – Rent Growth – Sport Clips and AT&T are both on new 5-year NNN leases featuring 10% rent growth in their (2) 5-year options. Jimmy John’s commenced their 10-year NNN lease in late December 2017. Their lease features 10% rent increases every five years in the Primary and (2) 5-year Option periods. The NNN leases provide for minimal landlord responsibilities and offer an investor a true passive income stream.
Proximity to General Mitchell International Airport – Primary Airport for Milwaukee and Travelers from North Chicago, Wisconsin, Illinois – The Franklin Shops are located within 4 miles of the General Mitchell International Airport, which sees nearly 7 million passengers per year. Along with being the primary airport for Milwaukee, Mitchell International has sometimes been described as Chicago’s third airport, as many travelers in the suburbs north of Chicago use it instead of Chicago’s O’Hare and Midway airports. It is also used by travelers throughout Wisconsin and Northern Illinois as it is the only airport in Wisconsin or Illinois with service from all major domestic airlines. The airport is served by an Amtrak railway station running between Chicago and Milwaukee several times daily.
Located in the City of Franklin – Fastest Growing Community in Milwaukee County – Proximity to Downtown Milwaukee – The center is located in the City of Franklin, which is situated in southwestern Milwaukee County just 14 minutes south of Milwaukee, the largest city in Wisconsin. Franklin provides a strategic business location within easy driving distance of Milwaukee to the north, Chicago to the south, and Madison to the west. Recognized among the Top 100 “Best Places to Live” by Money magazine, Franklin has the highest growth rate of all cities in Southeastern Wisconsin and is projected to have 29% growth by 2040. Franklin is home to major companies like Northwestern Mutual, Wheaton Franciscan Healthcare, Krones, Baptista’s Bakery, Vesta, Carlisle Interconnect Technologies, Carmex, Central Aquatics, Proteus Packaging, and Transpak.