The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Children\u2019s Hospital of Wisconsin property located at 1215 George Towne Drive in Pewaukee, Wisconsin for $4,695,000.<\/p>\n
The newly constructed, 11,736 square foot net lease Children\u2019s Hospital of Wisconsin property benefits from its placement along Capitol Drive (26,000 VPD) which is a primary east-west thoroughfare. The property is well positioned in a retail corridor with tenants such as Walmart, Menards, Ashley HomeStore, ALDI, Costco Wholesale, and PetSmart. There are over 84,000 people living within five miles of the property with an average annual household income of $110,335.<\/p>\n
The Children\u2019s Hospital lease expires August 31, 2028 and features two 5-year renewal option periods. There are 2% annual rental escalations throughout the lease term as well. Children\u2019s Hospital of Wisconsin is the region\u2019s only independent healthcare system dedicated solely to the health and well-being of children. In Milwaukee and throughout the state, they provide kids and their families a wide range of care and support – everything from routine care for ear aches or sore throats to life saving advances and treatment options.<\/p>\n
Jimmy Goodman and John Feeney of The Boulder Group represented the buyer in the transaction. The buyer was a New York based firm in a 1031 exchange. The seller was a local real estate firm.<\/p>\n
\u201cNew construction healthcare properties continue to garner significant investor interest\u201d said Jimmy Goodman, Partner of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, \u201cRetail-based healthcare is a new and innovative trend in our sector.\u201d<\/p>\n