The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease Pick \u2018n Save property located in Appleton, Wisconsin for $7,000,000.<\/p>\n
The 54,340 square foot net lease Pick \u2018n Save property is positioned within a well populated retail area. Tenants around the property include Walmart, Chase Bank, Lowe\u2019s Home Improvement, Kohl\u2019s, Target, The Home Depot, Best Buy, and Menards. There are over 147,000 people living within 5 miles of the property earning an average annual income of $78,080.<\/p>\n
Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction who is a Midwest based real estate investor.<\/p>\n
The Pick \u2018n Save property features a corporate guaranty from Kroger and has over 6 years remaining on the primary lease. Roundy’s is a subsidiary of Kroger, which operates 145 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 and the 89th largest retailer in the United States. As of December 2015, Roundy’s became a subsidiary of Kroger of Cincinnati, Ohio.<\/p>\n
\u201cThe market for standalone grocery properties remains active due to their built-in customer base,\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 John Feeney, Senior Vice President of The Boulder Group, added, \u201cInvestors pay a premium for grocery stores with a strong sales history.\u201d<\/p>\n