Nationally Recognized Tenant: Goodwill Industries – Corporate Lease – The property is leased to Goodwill Industries (“Goodwill”), which operates a network of 163 independent, community-based organizations. In 2015, the group served more than 37 million people, with more than 312,000 people placed into employment. Goodwill takes in more than $4.8 billion in annual revenue.
Recently Exercised Lease Option – 15 Year Successful Operating History – 6% Rent Increases in Options – The tenant has operted successfully at this location since the building was constructed in 2002. The tenant recently exercised their 3-year option, extending the lease an additional 8 years beyond its original 10 year term, showing their commitment to the site. The lease features strong rent growth with 6% rent increases in the (2) 3-year Option Periods. In addition, the double-net (NN) lease provides an investor with limited landlord responsibilities.
Located Adjacent to East Towne Mall (87,000 SF) – Excellent Retail Synergy & Consumer Draw – The subject property is located near the East Towne Mall, a nearly 787,000 square foot mall with notable retailers including Boston Store, Dick’s Sporting Goods, JC Penney, Barnes and Noble, Bath & Body Works, Gordman’s, dressbarn, U.S. Bank, Associated Bank, and many more. Officials recently announced East Towne Mall will undergo a multi-million dollar renovation featuring new flooring, lighting, seating areas, and color schemes.
Highly Desirable Real Estate Fundamentals – Located Along Interstate 90 (89,000 CPD) – Excellent Visibility – Quick Freeway Access – The subject property is located on East Springs Dr, which runs alongside Interstate 90, and offers visibility to 89,000 cars per day. The property is only a 1/4 mile from the on/off ramp to Interstate 90 and Hwy 151 for quick access to downtown Madison just 7 miles to the southwest.
Shadow Anchored by Menards & Kohl’s Anchored Power Center – Destination Shopping Environment – Black Angus Steakhouse has just under 6 years remaining on its original 16.8-year absolute triple-net lease providing an investor with a passive long-term investment. The lease also features CPI rent increases capped at 10% every 5 years throughout the Primary term and in the (4) 5-year option periods.
Located in the Desirable Capital City of Madison – Home to the University of Wisconsin – One of the Fastest Growing Communities in Madison – The subject property is located in Madison, Wisconsin. Madison, part of Dane County, has a strong diverse economy based on healthcare, education, insurance, and hi-tech businesses. It is one of the fastest growing communities in Wisconsin and has won numerous awards including “Healthiest City”, “Best Places to Live”, “Best Cities for Young Professionals”, and “Best City for Families”.