Huge Value Add Opportunity – The shopping center is offered for sale on existing in-place NOI with 40% vacancy, allowing an investor to benefit from the lease-up.
Investment Grade Credit Tenant – The center is co-anchored by Staples Inc. (S&P: BBB-), which operates 2,000+ stores worldwide and reported total revenue of $21.05 billion over the 12-month period ending January 30, 2016, a net income of $379 million and net worth of $5.38 billion.
Co-Anchored by Goodwill – Hub Location – The property is a hub location for the Madison area for Goodwill, which operates a network of 164 independent, community-based organizations. In 2014, Goodwill generated a total of $5.37 billion in revenue, 83 percent of which was spent directly on programs.
Anchored by Home Depot – The subject property is located in a center that is anchored by Home Depot, drawing heavy customer traffic to the trade area and offering excellent retail synergy.
Centrally Located to Major Highways & Downtown Madison – The property is ideally located at the intersection of Hwy 18 (64,000 vpd), and Hwy 14/12 (13,000 vpd), offering quick access to Downtown Madison, which is only 5 miles away..
Strong Economy – Madison’s strong economy has an unemployment rate of 3.6%, all-time high housing demand, and dynamic job growth of 3.8%, which is projected to continue through 2020.