Lee & Associates is pleased to present the exclusive opportunity to acquire the fee simple interest in a newly constructed, 3,486 square foot single-tenant retail property leased to LensCrafters at 4518 E. Washington Avenue in Madison, Wisconsin. Completed in 2024, the property is situated on approximately 0.70 acres in the city's dominant east side retail corridor. The asset is secured by a corporate guaranty from Luxottica of America, Inc., a wholly owned subsidiary of EssilorLuxottica S.A. (S&P: A), one of the world's largest optical companies with approximately $28 billion in annual revenue and more than 5,900 North American retail locations. The property is leased on a double-net (NN) lease with approximately eight years of remaining primary term, 10% rent increases every five years, and two 5-year renewal options.

LensCrafters is one of North America's leading optical retailers, operating more than 1,100 locations and benefiting from the financial strength and vertically integrated platform of EssilorLuxottica. The newly developed store features a significant medical interior build-out designed specifically for the tenant's operations, creating substantial relocation costs and reinforcing long-term occupancy. The combination of a purpose-built facility, corporate guaranty, scheduled rental increases, and a nationally recognized tenant provides investors with a stable income stream backed by an investment-grade parent company.

The property occupies a premier location immediately adjacent to East Towne Mall, Wisconsin's highest-rated super regional mall with more than 80 retailers and approximately 4.8 million annual visitors. Positioned along East Washington Avenue (US-151), the site benefits from traffic counts of approximately 25,000 vehicles per day, while Interstate 90/94, carrying approximately 77,500 vehicles per day, is located less than one mile away. The surrounding trade area includes major national retailers, restaurants, hotels, and service providers, while Madison's diverse economy is anchored by the State of Wisconsin, the University of Wisconsin-Madison, healthcare systems, and a growing technology sector. Within five miles of the property are more than 128,000 residents, nearly 68,000 employees, and average household incomes exceeding $115,000, supporting the long-term fundamentals of this investment.