Skip to main content

Department Store

Maurices

1012 N 8th St, Medford, WI 54451

Listing Price: $657,000

Cap Rate
8.00%
Tenant Name
Maurices
Years Remaining On Lease
1.7
Gross SF
5,005
Guarantor
Corporate Guarantee
Rentable SF
5,005
Price/Gross SF
$131.27
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.50

Investment Overview

Marcus & Millichap is pleased to exclusively present for your acquisition review the net leased Maurices in Medford, Wisconsin. The 5,005 square foot building sits on an oversized 1.96 acre lot and was built-to-suit for Maurices in 2011 with Maurices signing an original 10-year lease. The current lease expiration is January 31, 2024, leaving almost 2 years of base lease term left with a rent increase in February 2024 with the signing of the first renewal option. The tenant just extended the lease an additional two years showing their commitment to the site. The lease is modified triple net, with the landlord being responsible for the roof and structural components of the building and the tenant responsible for all common area maintenance, real estate taxes and insurance. Maurices is the sole outparcel to the Walmart Supercenter and has excellent exposure along North 8th Street. Maurices capitalizes off a lack of competition in their niche market and benefits from the strong traffic counts driven by Walmart and some of the other surrounding retailers including Taco Bell, Arby’s, Hardees, O’Reilly Auto Parts, Advance Auto Parts and others. Medford is ideally situated 78 miles outside of Eau Claire and 160 miles outside of Minneapolis, and also 140 miles west of Green Bay. Maurices was a part of Ascena Retail Group, Inc which operates more than 4,900 stores across five main brands and is publicly traded on the NASDAQ under the ticker symbol “ASNA”. However, in late March 2019, a majority stake in the Duluth-based retail chain was purchased in a $300 million deal by an affiliate of the London-based private equity firm, OpCapita LLP. Ascena will maintain a significant minority interest.

Investment Highlights

  • Walmart Supercenter Outparcel – Oversize 1.96 Acre Lot
  • Built-to-Suit for Maurices in 2011 | No Deferred Maintenance
  • Original 10-Year Lease | Recent Lease Extension | Lease Expires January 2024
  • Modified NNN Lease | Minimal Landlord Responsibility | Tenant Responsible for CAM, Taxes & Insurance
  • Three, Five-Year Renewal Options Available with Rent Increases in Each
  • Nearby Retail Traffic Drivers Include Taco Bell, KFC, Culver's, O'Reilly Auto Parts, Tractor Supply, McDonald's, Family Dollar, and Dollar Tree Among Others

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Department Store

Maurices

Listing Price: $657,000

Cap Rate
8.00%
Tenant Name
Maurices
Years Remaining On Lease
1.7
Gross SF
5,005
Guarantor
Corporate Guarantee
Rentable SF
5,005
Price/Gross SF
$131.27
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.50

Investment Highlights

  • Walmart Supercenter Outparcel – Oversize 1.96 Acre Lot
  • Built-to-Suit for Maurices in 2011 | No Deferred Maintenance
  • Original 10-Year Lease | Recent Lease Extension | Lease Expires January 2024
  • Modified NNN Lease | Minimal Landlord Responsibility | Tenant Responsible for CAM, Taxes & Insurance
  • Three, Five-Year Renewal Options Available with Rent Increases in Each
  • Nearby Retail Traffic Drivers Include Taco Bell, KFC, Culver's, O'Reilly Auto Parts, Tractor Supply, McDonald's, Family Dollar, and Dollar Tree Among Others

Investment Overview

Marcus & Millichap is pleased to exclusively present for your acquisition review the net leased Maurices in Medford, Wisconsin. The 5,005 square foot building sits on an oversized 1.96 acre lot and was built-to-suit for Maurices in 2011 with Maurices signing an original 10-year lease. The current lease expiration is January 31, 2024, leaving almost 2 years of base lease term left with a rent increase in February 2024 with the signing of the first renewal option. The tenant just extended the lease an additional two years showing their commitment to the site. The lease is modified triple net, with the landlord being responsible for the roof and structural components of the building and the tenant responsible for all common area maintenance, real estate taxes and insurance. Maurices is the sole outparcel to the Walmart Supercenter and has excellent exposure along North 8th Street. Maurices capitalizes off a lack of competition in their niche market and benefits from the strong traffic counts driven by Walmart and some of the other surrounding retailers including Taco Bell, Arby’s, Hardees, O’Reilly Auto Parts, Advance Auto Parts and others. Medford is ideally situated 78 miles outside of Eau Claire and 160 miles outside of Minneapolis, and also 140 miles west of Green Bay. Maurices was a part of Ascena Retail Group, Inc which operates more than 4,900 stores across five main brands and is publicly traded on the NASDAQ under the ticker symbol “ASNA”. However, in late March 2019, a majority stake in the Duluth-based retail chain was purchased in a $300 million deal by an affiliate of the London-based private equity firm, OpCapita LLP. Ascena will maintain a significant minority interest.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

MM Texture Background
MM Textured Background Lower