The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Pick ‘n Save property located in Milwaukee, Wisconsin for $20,000,000.
The 120,000 square foot Pick ‘n Save property is positioned within a well populated retail area. Tenants around the property include Starbucks, Domino’s Pizza, U.S. Bank, Dunkin’, McDonalds, Napa Auto Parts, Culver’s, and more. There are over 231,559 people living within 5 miles of the property earning an average annual income of $68,413.
Jimmy Goodman and John Feeney of The Boulder Group represented both the buyer and the seller in the transaction. The seller is a Milwaukee based real estate investor. The Buyer is a national private real estate company.
The Pick ‘n Save property features a corporate guaranty from Kroger and has over 8 years remaining on the primary lease. Roundy's is a subsidiary of Kroger, which operates 153 supermarkets and 99 pharmacies throughout the states of Wisconsin and Illinois. Based on fiscal year 2012 sales, Roundy's was the 37th largest grocery store chain. In December 2015, Roundy's became a subsidiary of Kroger of Cincinnati, Ohio. Kroger ranks among the top 5 in grocery store sales coming in at number 3 in sales out of all grocery retailers in 2021.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Jimmy Goodman, Partner at The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “Investors pay a premium for grocery stores with a strong sales history.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $6 billion of single tenant net lease real estate transactions. From 2012-2020, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
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Address:3520 Lake Avenue Suite 203
Country: United States