(Northbrook, IL- August 11, 2017) – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Pick ‘n Save property located at 2518 West Washington Street in West Bend, Wisconsin for $18,186,840.
The 63,160 square foot Pick ‘n Save grocery store was constructed in 2010 and features an on-site pharmacy. Pick ‘n Save has operated in the immediate area since 1984, demonstrating the tenant’s commitment to the location and successful operating history. The property is strategically located at the intersection of West Washington Street and Wildwood Road. West Washington Street is the primary east-west thoroughfare in the trade area. The property is just off of Highway 45, a major highway connecting West Bend to Milwaukee. Due to its proximity to Milwaukee, West Bend has access to all of the amenities and features of a large city while retaining the feel of a small town.
Pick ‘n Save has over 13 years remaining on the lease which expires December 31, 2030. The triple net lease has rental escalations in the primary term and each four 5-year renewal option. The lease also features a corporate guarantee from The Kroger Company showing their dedication to the location and comfort with the stores performance. Pick ‘n Save is the number one market share grocer in the Milwaukee MSA and is owned and operated by Roundy’s Supermarkets, Inc., a wholly owned subsidiary of The Kroger Company. There are more than 100 Pick ‘n Save stores servicing communities across Wisconsin.