Prairie Lakes Shops: 100% Leased Multi-Tenant Retail Strip Center – Desirable National Tenant Mix – The Prairie Lake Shops center is an 8,000-square-foot multi-tenant retail building that is 100% leased to Mattress Firm, Jersey Mike’s and MOD Pizza.
Mattress Firm is America’s largest specialty mattress retailer, with approximately 2,600 neighborhood stores in 49 states across the country.
Jersey Mike’s is an American submarine sandwich chain headquartered in Wall Township, New Jersey that has almost 1,592 locations open and about 124 more in development across the United States.
MOD Pizza was named #3 on Nation’s Restaurant News list of fastest-growing restaurant chains in June 2020, and were named one of the Top 10 Pizza Chains in October 2019.
Superior Outparcel Location within Prairie Lakes Shopping Center – Signalized Corner Location – Excellent Visibility – The subject property sits as an outparcel to The Prairie Lakes Shopping Center at the signalized corner location of Hoepker Road and South Legacy Way (8,200 CPD). The front pad location strategically gives the property tremendous visibility/access to the traffic flowing within the Prairie Lakes Shopping Center.
Anchored by Target, Home Goods, TJ Maxx & Five Below – Shadow Anchored by Costco & Marcus Palace Cinemas – Strong Draw to the Site – The subject property is anchored by Target, Home Goods, TJ Maxx and Five Below, providing a strong daily draw to the shopping center and the subject property. The site also greatly benefits from its location adjacent to Costco and Marcus Palace Cinemas. This shadow anchor scenario provides a consistent flow of traffic into and around the Prairie Lakes Shopping Center, allowing the subject property to take advantage of its superior, front pad location.
New NNN Leases – Rent Growth – Minimal Landlord Responsibilities – All three national tenants are on new NNN leases featuring rent growth in the Primary Term and the option periods. The NNN leases provide a landlord with very minimal responsibilities and the strength of the tenant mix provides a true passive income stream.
Surrounded by New Residential Developments – Strong Demographics – 30,000 Homes & 70,000 People (5 Miles) – Average HH Income of $94,000 (1 Mile) – The property is centrally located and among many new residential developments such as The Abbey (284 units), Springs at Sun Prairie (228 units), Leopold Place (135 units), Barrington Place (202 units), Fox Point (90 single family homes), Prospect Commons (54 units), and West Prairie Village (48 single family homes), providing an influx of new single family and multi-family housing to the area. There are currently over 70,000 people within a 5-mile radius of the subject property with an affluent average household income of over $94,000 within a 1-mile radius.
Located in Sun Prairie: Fastest Growing City in Dane County – Minutes to Downtown Madison, the Capital of Wisconsin – Diverse Economy Benefits from Highly Educated Workforce – The center is located within the community of Sun Prairie, which is the second most populous city in Dane County, and one of the fastest growing cities in Wisconsin. The community has seen dynamic growth due to its quick access to Downtown Madison via US Highway 151 to Interstates 39/90 and 94, its proximity to Dane County Regional Airport, and its affordable quality of life just minutes from ‘the Big City’.
Sun Prairie is only 11 miles northeast of downtown Madison, the capital and second-largest city in the State of Wisconsin and the county seat of Dane County. As the urban center of the region, Dane County is home to the state’s capital in the City of Madison, the University of Wisconsin flagship campus, the world-class Overture Center for the Arts, and an abundance of parks, lakes, and unique neighborhoods. Home to the fastest growing population of any county in Wisconsin, Dane County boasts a highly educated workforce to power its diverse and innovative industries.