adjacent to east town mall - loopnet...the property is leased to shopko, a chain of retail stores...

INVESTMENT OPPORTUNITY SHOPKO CENTERADJACENT TO EAST TOWN MALL

ST. PAUL, MN

OFFERED AT: $10,793,000 | 6.50% CAP

MADISON, WI

ZEIER RD (11,000 CPD)

E SPRINGS DR

46,000 CARS PER DAY

151

151

EAST TOWNE MALL

151

E TOWNE BLVD

E TOW

NE BLVD

LIEN RD

Lake MononaLake Mendota

MADISON MIDDLETON

DANE COUNTYREGIONAL AIRPORT

MADISON AREATECHNICAL COLLEGE

NORTHWOODSAPARTMENTSEAST TOWNE

STORAGE CENTERLYCON

30

30GOODWILL OF

SOUTH CENTRAL WISCONSIN

51

5130

51

51

STONEWOOD VILLAGEAPARTMENTS

WISCONSIN DEPTOF CORRECTIONS

SYCAMORE PARK

EAGAN RD

STONEBRIDGECONDOMINIUMS

• STEARNS PACKAGING WAREHOUSE• LINCOLN CONTRACTOR SUPPLY• SUNDBERG AMERICA• A+ STORAGE• BADGER SELF STORAGE• SMITH’S SERVICE CENTER• MADTOWN TWISTERS GYMNASTICS

• MADISON CONCRETE PIPE• QUICK FUEL• J&M MACHINING• AMERICAN MINI WAREHOUSE• DALTILE SALES• KRIETE LEASING & RENTAL• MCGANN CONSTRUCTION

• COVANCE LABORATORIES• ALFALIGHT• PENSKE TRUCK RENTAL• BELL LABORATORIES• FEDEX• SILLIKER LABORATORIES• MENASHA CORPORATION

• WISCONSIN NAT’L GUARD• STEPHEN & BRADY• TRUAX HEALTH• RODELL AUTO• AMERICAN FREIGHT• WISCONSIN DEPT OF MILITARY

AFFAIRS

EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW

SHOPKO | Madison, WI | 2

4 Offering Summary5 Investment Highlights6 Lease Summary & Rent Overview

EXECUTIVE SUMMARY

8 Location Maps9 Site Plan10 Property Photos12 Neighboring Tenants16 Aerials

PROPERTY INFORMATION

22 About Shopko

TENANT OVERVIEWS

24 Madison Overview25 Demographics

Confidentiality Agreement & Disclosures

AREA OVERVIEW

EXCLUSIVELY REPRESENTED BY

Color Scheme

Fonts

GOTHAM/ BLACKGOTHAM/ MEDIUMGOTHAM/ LIGHT

CMYK C:0 / M:100 / Y:65 / K:47

RGB R:145 / G:0 / B:40

CMYK C:0 / M:0 / Y:0 / K65

RGB R:119 / G:120 / B:123

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]

TABLE OF CONTENTS

BROKER OF RECORD:Lee & Associatesf Madison LLC

WI Brokers Lic#701361-91

EXECUTIVE SUMMARYSHOPKO | MADISON, WI


E SPRINGS DR

46,000 CARS PER DAY

151

151

151

E TOWNE BLVD

E TOW

NE BLVD (7,000 CPD)

LIEN RD


MADISON MIDDLETON




STORAGE CENTERLYCON

30

30GOODWILL OF


51

5130

51

51



SYCAMORE PARK

EAGAN RD






AFFAIRS

EAST TOWNE MALL



PROPERTY OVERVIEW

Address: 2201 Zeier RdMadison, WI 53704

Property Size: Approx 94,120 sq ft

Land Size: 7.20 Acres

Ownership: Fee Simple

Year Built: 1987 / Renovated 2004

Parking Spaces: 440

INVESTMENT HIGHLIGHTSOffering Price: $10,793,000Net Operating Income: $701,521Cap Rate: 6.50%Price/SF: $114

Lee & Associates is pleased to exclusively offer for sale to qualified investors the opportunity to purchase a 100% fee-simple interest in a Shopko property located at 2201 Zeier Rd in Madison, WI (the “Property”). Constructed in 1988, the Property consists of a 94,120-square foot building that sits on an approximately 7.20 acre parcel.

The subject property is leased to Shopko, a chain of retail stores with over 350 locations throughout the country. Shopko has been operating successfully at this location since 1987. Shopko has 11+ years remaining on its 15 year lease, which features (2) 10-year options to renew. The lease features strong rent growth with rent increases every three years in the Primary Term and Option Periods. In addition, the Absolute Triple-net (NNN) lease provides an investor with limited landlord responsibilities.

This location benefits from a below market rent of $7.45 per square foot which provides an investor with future value when you consider the strong demand for retail real estate in the West Madison submarket. Market rent is closer to $14.00 per square foot making the current rent replaceable in event the tenant was to ever vacate. This location is a top performing store, reporting roughly $11,800,000 in sales annually.

Shopko is situated in a dense retail trade area, providing for outstanding synergy. Adjacent co-tenants include Ulta, DSW Shoes, Babies R’ Us, Party City, Kirkland’s, Marshall’s, Burlington, and Staples. Directly behind the Shopko is a Kohl’s anchored center with co-tenants PetSmart, Best Buy, Old Navy, and Ashley Home Store, as well as Menard’s, Goodwill, and Home Depot close by. Located across the street from Shopko, the East Towne Mall is a 787,000 square foot center with notable retailers including Boston Store, JC Penney, Barnes and Noble, and Dick’s Sporting Goods. In mid-2016, officials announced that the East Towne Mall will undergo a multimillion-dollar renovation that will include new flooring, lighting, seating areas, color schemes, and new furniture in the food court.

The subject property is located on Zeier Rd, which is a main access road into the East Towne Mall. The property is only a 1/4 mile from the on/off ramp to Interstate 90 from Hwy 151, providing shoppers and nearby residents quick access to downtown Madison.

The subject property is only 7 miles northeast of downtown Madison, the the capital and second-largest city in the State of Wisconsin and the county seat of Dane County. As the urban center of the region, Dane County is home to the state’s capital in the City of Madison, the University of Wisconsin flagship campus, the world-class Overture Center for the Arts, and an abundance of parks, lakes, and unique neighborhoods. Home to the fastest growing population of any county in Wisconsin, Dane County boasts a highly educated workforce to power its diverse and innovative industries. With assets in information technology, life sciences, and agriculture, Madison and Dane County consistently rank among the top communities for work and play.

-- OFFERING SUMMARY --

• Offering Summary • Lease Summary & Rent OverviewInvestment Highlights

151

EAST TOWNE MALL

151



-- INVESTMENT HIGHLIGHTS --

SHOPKO: $3B RETAILER WITH 360 STORES IN 24 STATES • CORPORATE LEASE GUARANTY • SUCCESSFUL 30+ YEAR OPERATING HISTORY The property is leased to Shopko, a chain of retail stores headquartered in Green Bay, Wisconsin. Shopko is a privately held $3 billion retailer that operates over 360 stores in 24 states throughout the Midwest, Mountain, North Central and Pacific Northwest regions. The lease has a corporate guaranty from Specialty Retail Shops Holding Corp. Shopko has been operating successfully at this location since 1987.

BELOW MARKET RENT ($7.45 PSF) • TOP PERFORMING STORE • $11,800,000 REPORTED ANNUAL SALESThis location benefits from a below market rent of $7.45 per square foot which provides an investor with future value when you consider the strong demand for retail real estate in the West Madison submarket. Market rent is closer to $14.00 per square foot making the current rent replaceable in the event the tenant ever vacates.

This location is a top performing store, reporting roughly $11,800,000 in sales annually.

A+ REAL ESTATE LOCATION • ACROSS FROM EAST TOWNE MALL (787,000 SF) • HIGHLY DESIRABLE DENSE NORTHEAST MADISON RETAIL TRADE AREA • OUTSTANDING CUSTOMER DRAW TO SITEShopko is located in the dense northeast Madison retail trade area across from the 787,000 SF East Towne Mall, providing for outstanding synergy with co-tenants including Ulta, DSW, Marshall’s, Kirkland’s, Party City, and Burlington, as well as adjacent national retailers such as Menard’s, Kohl’s, Old Navy, Ashley Home Store, Home Depot, and Goodwill. The East Towne Mall is undergoing a multimillion-dollar renovation currently.

LONG TERM ABSOLUTE NNN LEASE • ZERO LANDLORD RESPONSIBILITIES • PARKING LOT RECENTLY REPLACEDShopko has 11+ years remaining on its current 15 year lease, which features (2) 10-year options to renew. The lease features strong rent growth with rent increases every three years in the Primary Term and Option Periods. In addition, the Absolute Triple-net (NNN) lease provides an investor with limited landlord responsibilities. Tenant recently replaced the parking lot at their expense.

LOCATED ALONG MAJOR RETAIL/COMMUTER CORRIDOR • EXCELLENT VISIBILITY & ACCESS The subject property benefits from outstanding visibility with its location on Zeier Rd (11,000 CPD), which is a main access road into the East Towne Mall, and intersects directly onto Hwy 151 (46,000 CPD) to Interstate 90 (89,000 CPD), providing shoppers and nearby residents easy acces in/out of the center, and offering quick access to downtown Madison.

LOCATED IN THE DESIRABLE CAPITAL CITY OF MADISON • HOME TO THE UNIVERSITY OF WI • ONE OF THE FASTEST GROWING COMMUNITIES IN WISCONSIN The subject property is located in Madison, Wisconsin. Madison is the second-largest city in Wisconsin and the county seat of Dane County. The area has a strong, diverse economy based on healthcare, education, insurance, and hi-tech businesses. It is one of the fastest growing communities in Wisconsin and has won numerous awards including “Healthiest City”, “Best Places to Live”, “Best Cities for Young Professionals”, and “Best City for Families”.

The Wisconsin state government and the University of Wisconsin–Madison remain the top two dominant economic influences within the city. However, Madison’s economy today is evolving from a government-based economy to a consumer services and high-tech base, particularly in the health, biotech and advertising sectors. Many businesses are attracted to Madison’s skill base, taking advantage of the area’s high level of education. Over 48% of Madison’s population over the age of 25 holds at least a bachelor’s degree.

Offering Summary Lease Summary & Rent Overview• Investment Highlights •



-- LEASE SUMMARY --

Offering Summary • Lease Summary & Rent Overview •Investment Highlights

INVESTMENT SUMMARYTenant: Shopko Stores Operating Co, LLC dba Shopko

Guarantor: Specialty Retail Shops Holding Corp. (Corporate)

Building Size: 94,120 SF

Lot Size: 7.20 Acres

Ownership: Fee Simple

Year Built: 1988 / Renovated 2004

TERMS, BASE RENT & OPTIONSAnnual Base Rent: $701,521

Lease Commencement: June 1, 2006

Lease Expiration: November 30, 2029

Lease Term: 15 Years

Term Remaining: 11+ Years

Options to Renew: (2) 10 Year Options

Rent Increases: See Increase Formulation

Lease Type: Absolute Triple-Net (NNN)

Landlord Responsibilities: None

RENT SCHEDULE - PRIMARY TERM

Start Date End Date NOI/Yr NOI/Mo NOI/SF/Yr NOI/SF/Mo

6/1/2017 5/31/2020 $701,521.92 $58,460.16 $7.45 $0.62

6/1/2020 5/31/2023 $727,829.00 $60,652.42 $7.73 $0.64

6/1/2023 5/31/2026 $755,122.58 $62,926.88 $8.02 $0.67

6/1/2026 5/31/2029 $783,439.67 $65,286.64 $8.32 $0.69

6/1/2029 11/30/2029 $812,818.65 $67,734.89 $8.64 $0.72

RENT SCHEDULE - (2) 10-YEAR OPTIONS

Start Date End Date NOI/Yr NOI/Mo NOI/SF/Yr NOI/SF/Mo

Option 1 12/1/2029 5/31/2032 $843,299.35 $70,274.94 $8.96 $0.75

6/1/2032 5/31/2035 $874,923.07 $72,910.25 $9.30 $0.77

6/1/2035 5/31/2038 $907,732.68 $75,644.39 $9.64 $0.80

Option 2 6/1/2038 5/31/2041 $941,772.65 $78,481.05 $10.00 $0.83

6/1/2041 5/31/2044 $977,089.12 $81,424.09 $10.38 $0.86

6/1/2044 5/31/2047 $1,013,729.96 $84,477.50 $10.77 $0.90

6/1/2047 11/30/2049 $1,051,744.83 $87,645.40 $11.17 $0.93

-- RENT OVERVIEW --

INCREASE FORMULATION

* Rental increases assume a CPI increases of 3% every 3 years.** Rental increases calculated by the lesser of: 1) 1.25 multiplied by the product of a) base rent in effect prior to increase and b) CPI increase OR 2) 6% of the base rent in effect prior to the increase date.

PROPERTY INFORMATIONSHOPKO | MADISON, WI


E SPRINGS DR

46,000 CARS PER DAY

151

151

151

E TOWNE BLVD

E TOW

NE BLVD (7,000 CPD)

LIEN RD


MADISON MIDDLETON




STORAGE CENTERLYCON

30

30GOODWILL OF


51

5130

51

51



SYCAMORE PARK

EAGAN RD






AFFAIRS

EAST TOWNE MALL



-- LOCATION MAPS --

• Location Maps • Property Photos Aerials

MADISON

Site Plan Neighboring Tenants

Pacific Ocean

DUBUQUE

ROCKFORD

FOND DU LAC

MILWAUKEE

MOLINE

CHICAGO

PEORIA

151

151

151

51

51

51

51

18

18

MADISON



-- SITE PLAN --

Location Maps Property Photos Aerials• Site Plan • Neighboring Tenants

GardenCenter

ZEIER RD

E TO

WN

E BL

VD



Location Maps • Property Photos • AerialsSite Plan Neighboring Tenants

-- PROPERTY PHOTOS --



Location Maps Property Photos AerialsSite Plan • Neighboring Tenants •

-- NEIGHBORING TENANTS -- ULTA & DSW Stores Adjacent to Shopko




-- NEIGHBORING TENANTS -- Multi-Tenant Center Next to Shopko



-- NEIGHBORING TENANTS --


Marshalls, Kirkland’s Locaated Next Door

Burlington, Sally Beauty, Jo-Ann FabricsSignage Along Zeier Rd (11,000 cars per day)Party City Located Next Door



-- NEIGHBORING TENANTS --


East Towne Mall Located Across from Shopko



-- OVERHEAD VIEW --


Location Maps Property Photos • Aerials •Site Plan Neighboring Tenants

E. TOWNE BLVD (7

,000

CPD

)



-- LOOKING NORTHEAST --



HANOVER SQUAREAPARTMENTS

151

151

151

151

151

E TO

WNE

BLVD

STONERIDGE POINTCONDOMINIUMS HOLBORN VILLAGE

APARTMENTS

METRO KIA/FORD

ZIMBRICK GMC/NISSAN

EAST MADISON TOYOTA

DON MILLER SUBARU EAST

RUSS DARROW CHRYSLER JEEP DODGE

CAMDEN COURTAPARTMENTS

THE MADISONAPARTMENTS

CHERRY TREE CROSSING APARTMENTS

BARRINGTON PLACEAPARTMENTS

E SPRINGS DR

E SP

RIN

GS

DR

89,000 CARS PER DAY

46,000 CARS PER D

AY

E. TOW

NE BLVD (7,000 CP

D)



-- LOOKING SOUTHEAST --


ZEIER RD (11,000 CPD

)

151

E TOWNE BLVD (7,000 CPD)

E SPRINGS D

R

89,000 CARS PER DAY

46,000 CARS PER DAY151

151

E SPRINGS DR

HIGH CROSSING BLVD

LIEN RD

AUTUMN CREEKAPARTMENTS

SYCAMORE PARK

PRENTICE PARKAPARTMENTS

LIEN RD

30

30

EAST TOWNE MALL




-- LOOKING SOUTHWEST --



E SPRINGS DR

46,000 CARS PER DAY

151

151

151

E TOWNE BLVD

E TOW

NE BLVD (7,000 CPD)

LIEN RD


MADISON MIDDLETON




STORAGE CENTERLYCON

30

30GOODWILL OF


51

5130

51

51



SYCAMORE PARK

EAGAN RD






AFFAIRS

EAST TOWNE MALL



-- LOOKING NORTHWEST --


ZEIE

R RD

(11,

000

CPD

)

46,000 CARS PER DAY151 151151

E SPRINGS DR

HIGH CROSSING BLVD

E SPRINGS DR


VILLAGE GREENAPARTMENTS

FOREST RUN APARTMENTS

SANDBURGELEMENTARY SCHOOL


5151

51

51

E TOWNE BLVD

EAST TOWNE MALL


TENANT OVERVIEWSHOPKO | MADISON, WI


E SPRINGS DR

46,000 CARS PER DAY

151

151

151

E TOWNE BLVD

E TOW

NE BLVD (7,000 CPD)

LIEN RD


MADISON MIDDLETON




STORAGE CENTERLYCON

30

30GOODWILL OF


51

5130

51

51



SYCAMORE PARK

EAGAN RD






AFFAIRS

EAST TOWNE MALL

EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW


AREA OVERVIEW

-- ABOUT SHOPKO --

• About Shopko •

Shopko is a chain of retail stores based in Ashwaubenon, Wisconsin. Shopko was founded in 1962 by pharmacist James Ruben. When Ruben opened the first Shopko store in Green Bay in 1962, he envisioned a company focused on quality, convenience and value. He saw the opportunity to combine health care services with a large discount store, and in 1971 Shopko became one of the first mass retailers to feature a pharmacy in its stores. In another innovative step, Shopko added optical care centers to its stores in 1978. Today Shopko is known for its excellence in optical

care and its best in class pharmacy services.

In 1991, Shopko Stores, Inc. became a publicly-held, independent company with stock traded on the New York Stock Exchange under the symbol “SKO”. In December of 2005, Shopko Stores, Inc. was purchased by an affiliate of Sun Capital Partners, Inc., a leading private investment firm, and is no longer a publicly owned corporation.

In 2010, Shopko introduced a new retail concept to augment Shopko’s larger store format: Shopko Hometown. The Shopko Hometown retail format offers a differentiated and financially successful merchandising strategy. Shopko Hometown combines pharmacy services and a comprehensive HBA, household goods and dry grocery assortment with a broad and dynamic offering of strong national brands and high-value private label brands of apparel, home goods, toys, consumer electronics, seasonal items, and lawn and garden products – all in attractive, well laid out, easy-to-shop store format that range in size from 15,000 – 35,000 square feet.

Following its merger with Pamida in early 2012, Shopko acquired and converted over 170 stores and pharmacies to the Shopko brand.

Shopko stores deliver a great customer experience. Clean, spacious and well-lit, the easy to shop stores offer friendly service and on-trend, quality merchandise. Shopko carries name brands such as Nike, Adidas, New Balance, Kitchen Aid, Fisher-Price, Gloria Vanderbilt and Sony. Shopko’s popular private label brands include Willow Bay, Bailey’s Point, NorthCrest, Energy Zone, Soft Sensations, Peanut & Ollie and Green Soda.

Headquartered in Green Bay, Wisconsin, Shopko Stores Operating Co., LLC is now a $3 billion retailer that operates over 330 stores in 21 states throughout the Midwest, Mountain, North Central and Pacific Northwest regions. Retail formats include 134 Shopko stores, providing quality name-brand merchandise, great values, pharmacy and optical services in small to mid-sized cities; 176 Shopko Hometown locations, a smaller concept store developed to meet the needs of smaller communities; 5 Shopko Express Rx stores, a convenient neighborhood drugstore concept; and 18 Shopko Pharmacy locations.

-- ABOUT SUN CAPITAL PARTNERS, INC. --

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, private equity, debt and other investments in market-leading companies that can benefit from the financial investor’s in-house professionals and operating experience. Sun Capital affiliates invest in companies which typically have the number one or two market position in their industry, long-term competitive advantages and significant barriers to entry. Sun Capital has offices located in Boca Raton, Los Angeles and New York and affiliates in London, Frankfurt, Paris, Luxembourg, Shanghai and Shenzhen.

Sun Capital affiliates have invested in more than 285 companies worldwide since Sun Capital’s inception in 1995, with combined sales in excess of $45 billion and more than 200,000 employees. On a consolidated basis, Sun Capital’s affiliated portfolio companies would rank in the top 100 of Fortune Magazine’s listing of the 500 largest companies in the United States.

AREA OVERVIEWSHOPKO | MADISON, WI


E SPRINGS DR

46,000 CARS PER DAY

151

151

151

E TOWNE BLVD

E TOW

NE BLVD (7,000 CPD)

LIEN RD


MADISON MIDDLETON




STORAGE CENTERLYCON

30

30GOODWILL OF


51

5130

51

51



SYCAMORE PARK

EAGAN RD






AFFAIRS

EAST TOWNE MALL



-- MADISON OVERVIEW --

• Madison Overview • Demographics

Madison is the capital of the State of Wisconsin and the county seat of Dane County. As the urban center of the region, Dane County is home to the state’s capital in the City of Madison, the University of Wisconsin flagship campus, the world-class Overture Center for the Arts, and an abundance of parks, lakes, and unique neighborhoods. Home to the fastest growing population of any county in Wisconsin, Dane County boasts a highly educated workforce to power its diverse and innovative industries. With assets in information technology, life sciences, and agriculture, Madison and Dane County consistently rank among the top communities for work and play. Madison is the second largest city in Wisconsin, after Milwaukee, and the 83rd largest in the United States.

The main downtown thoroughfare is State Street, a cultural focal point of the city, which links the University of Wisconsin campus with the State Capitol Square, and is lined with restaurants, espresso cafes and shops. Madison is also home to a number of historical sites and popular festivals, including the Rhythm and Booms celebration, the largest fireworks display in the Midwest as well as the Great Taste of the Midwest craft beer festival, the second longest running such event in North America. In winter months, sports enthusiasts enjoy ice boating, ice skating, ice fishing, cross-country skiing, ice hockey and snow-kiting.

Madison offers visitors a vibrant city that enjoys outdoor activities, diverse cultural events, tasty eats, and spirited sports enthusiasts. Its been ranked as a “Best Place to Live” by Livability.com and a top “U.S. City Perfect for a Weekend Getaway” by BuzzFeed. The Wall Street Journal named it a prominent city for “Good Eats”, and Yahoo.com voted Madison the “Best City on Earth for Biking” for its 200 miles of biking trails and bike share program.

An estimated 14 million people visit Greater Madison on an annual basis for events such as the Rhythm and Booms celebration, the largest fireworks display in the Midwest as well as the Great Taste of the Midwest craft beer festival, the second longest running such event in North America.

In 2014, visitors contributed $1.9 billion dollars in total business spending, which supported more than 20,405 full-time equivalent jobs in Dane County.

In addition, the Greater Madison Convention & Visitors Bureau (GMCVB) has booked nearly 200 conventions, conferences and sporting events that will take place in future years, which will result in more than $54.9 million in future spending in Dane County.

The Wisconsin state government and the University of Wisconsin-Madison remain the top two dominant economic influences within the city. However, Madison’s economy today is evolving from a government-based economy to a consumer services and high-tech base, particularly in the health, biotech and advertising sectors. Many businesses are attracted to Madison’s competent skilled workforce, taking advantage of the area’s high level of education. Over 48% of Madison’s population over the age of 25 holds at least a bachelor’s degree.



Demographic Source: Applied Geographic Solutions 10/2017, TIGER Geography page 1 of 1©2018, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2017 Estimates with 2022 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 43.1291/-89.3021RS1

2201 Zeier Rd1 mi radius 3 mi radius 5 mi radius

Madison, WI 53704

PO

PU

LATI

ON

2017 Estimated Population 6,640 42,207 114,309

2022 Projected Population 7,238 45,840 124,001

2010 Census Population 6,402 39,550 105,647


Projected Annual Growth 2017 to 2022 1.8% 1.7% 1.7%

Historical Annual Growth 2000 to 2017 0.9% 1.3% 1.4%

2017 Median Age 32.2 34.7 36

HO

US

EH

OLD

S

2017 Estimated Households 2,946 18,690 50,903

2022 Projected Households 3,169 20,076 54,623

2010 Census Households 2,854 17,470 47,053



Historical Annual Growth 2000 to 2017 0.9% 1.4% 1.5% R

AC

E A

ND

ETH

NIC

ITY

2017 Estimated White 68.8% 73.9% 79.8%

2017 Estimated Black or African American 10.6% 10.6% 8.3%

2017 Estimated Asian or Pacific Islander 9.3% 6.4% 4.9%

2017 Estimated American Indian or Native Alaskan 0.6% 0.5% 0.4%

2017 Estimated Other Races 10.8% 8.6% 6.5%

2017 Estimated Hispanic 12.7% 10.0% 7.4%

INC

OM

E 2017 Estimated Average Household Income $79,085 $71,257 $80,232

2017 Estimated Median Household Income $60,411 $58,875 $65,307

2017 Estimated Per Capita Income $35,137 $31,663 $35,820

ED

UC

ATI

ON

(AG

E 2

5+)

2017 Estimated Elementary (Grade Level 0 to 8) 3.5% 3.3% 2.1%

2017 Estimated Some High School (Grade Level 9 to 11) 3.3% 3.5% 3.2%

2017 Estimated High School Graduate 19.9% 21.0% 19.0%

2017 Estimated Some College 20.3% 21.5% 20.4%

2017 Estimated Associates Degree Only 11.6% 11.2% 10.6%

2017 Estimated Bachelors Degree Only 29.3% 26.3% 27.9%

2017 Estimated Graduate Degree 12.0% 13.2% 16.8%

BU

SIN

ES

S 2017 Estimated Total Businesses 654 2,390 5,019

2017 Estimated Total Employees 9,632 47,543 83,128

2017 Estimated Employee Population per Business 14.7 19.9 16.6

2017 Estimated Residential Population per Business 10.2 17.7 22.8BU

SIN

ES

S

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SUMMARY PROFILE2000-2010 Census, 2017 Estimates with 2022 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 43.1291/-89.3021RS1

2201 Zeier Rd1 mi radius 3 mi radius 5 mi radius

Madison, WI 53704

PO

PU

LATI

ON

2017 Estimated Population 6,640 42,207 114,309

2022 Projected Population 7,238 45,840 124,001





2017 Median Age 32.2 34.7 36H

OU

SE

HO

LDS

2017 Estimated Households 2,946 18,690 50,903

2022 Projected Households 3,169 20,076 54,623





RA

CE

AN

DE

THN

ICIT

Y

2017 Estimated White 68.8% 73.9% 79.8%

2017 Estimated Black or African American 10.6% 10.6% 8.3%

2017 Estimated Asian or Pacific Islander 9.3% 6.4% 4.9%

2017 Estimated American Indian or Native Alaskan 0.6% 0.5% 0.4%

2017 Estimated Other Races 10.8% 8.6% 6.5%

2017 Estimated Hispanic 12.7% 10.0% 7.4%

INC

OM

E 2017 Estimated Average Household Income $79,085 $71,257 $80,232

2017 Estimated Median Household Income $60,411 $58,875 $65,307

2017 Estimated Per Capita Income $35,137 $31,663 $35,820

ED

UC

ATI

ON

(AG

E 2

5+)

2017 Estimated Elementary (Grade Level 0 to 8) 3.5% 3.3% 2.1%

2017 Estimated Some High School (Grade Level 9 to 11) 3.3% 3.5% 3.2%

2017 Estimated High School Graduate 19.9% 21.0% 19.0%

2017 Estimated Some College 20.3% 21.5% 20.4%

2017 Estimated Associates Degree Only 11.6% 11.2% 10.6%

2017 Estimated Bachelors Degree Only 29.3% 26.3% 27.9%

2017 Estimated Graduate Degree 12.0% 13.2% 16.8%

BU

SIN

ES

S 2017 Estimated Total Businesses 654 2,390 5,019

2017 Estimated Total Employees 9,632 47,543 83,128

2017 Estimated Employee Population per Business 14.7 19.9 16.6

2017 Estimated Residential Population per Business 10.2 17.7 22.8

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1 Mile 3 Miles 5 Miles

-- DEMOGRAPHICS --

• Demographics •Madison Overview

Lee & Associates hereby advises all prospective purchasers of Net-Leased Invesment property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Lee & Associates has not and will not verify any of this information, nor has Lee & Associates conducted any investigation regarding these matters. Lee & Associates makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of an investment property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase.This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Lee & Associates expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of an investment property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any investment property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Lee & Associates and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this investment property.

Exclusively Listed By:

No warranty or representation is made as to the accuracy of the foregoing information. Terms of sale, lease, and availability are subject to change or withdrawal without notice.

BARR&BENNETTNETLEASEDINVESTMENTS

A Lee & Associates Team

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]

BROKER OF RECORD:Lee & Associatesf Madison LLC

WI Brokers Lic#701361-91

adjacent to east town mall - loopnet...the property is leased to shopko, a chain of retail stores...

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