Marcus & Millichap closed the sale of Piggly Wiggly, a 49,936-square-foot net-leased grocer in Kenosha, Wisconsin. The asset sold for $2.625 million.
Austin Weisenbeck and Sean Sharko, senior vice presidents and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
The buyer, a professional net-leased buyer with a Chicagoland office, was secured and represented by Weisenbeck and Sharko. Todd Lindblom assisted in closing this transaction as broker of record in Wisconsin.
Piggly Wiggly is located at 2801 14th Place in Kenosha. The tenant is Internet-resistant with a triple-net lease that has 10.5 years remaining on the base lease term. There are four five-year options remaining with rental increases.
The lease is guaranteed by Piggly Wiggly Midwest, Limited Liability Company.