The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Piggly Wiggly property located at 1330 Memorial Drive in Watertown, Wisconsin for $3,250,000.<\/p>\n
The 27,000 square foot net leased Piggly Wiggly building benefits from its location off State Highway 16, which is a primary north \u2013 south thoroughfare that connects to State Highway 26. The property is positioned next to Watertown Regional Medical Center, one of the most established inpatient\/ outpatient healthcare facilities in the area as they have been around for more than 100 years. This Piggly Wiggly location is less than 2.5 miles from downtown Watertown and 50 miles from Milwaukee and Madison. There are 32,156 people living within 7 miles of the property with an average household income in excess of $59,133.<\/p>\n
Jimmy Goodman and John Feeney of The Boulder Group represented the Seller in the transaction who is a Wisconsin-based individual. The buyer was a Wisconsin-based investor.<\/p>\n
The Piggly Wiggly lease expires on December 31, 2029 and features three 5-year renewal options. Today there are more than 530 Piggly Wiggly stores serving communities in 17 states. All Piggly Wiggly stores are independently owned and operated, and though they are located primarily in the Southeast, there are Piggly Wiggly stores and as far north as Wisconsin.<\/p>\n
\u201cThe market for standalone grocery properties remains active due to their built-in customer base,\u201d said Jimmy Goodman, Partner 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