The Boulder Group completed the sale of a single-tenant net-leased Pick ‘n Save property in Appleton, Wisconsin, for $7 million.
The 54,340-square-foot Pick ‘n Save property is positioned within a well-populated retail area. Tenants around the property include Walmart, Chase Bank, Lowe’s Home Improvement, Kohl’s, Target, The Home Depot, Best Buy and Menards.
There are more than 147,000 people living within five miles of the property earning an average annual income of $78,080.
Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction. The buyer is a Midwest-based real estate investor.
The Pick ‘n Save property features a corporate guaranty from Kroger and has more than six 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.