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Grocery Store

Pick 'n Save (Kroger) - Recent Long-Term Lease Extension

6655 McKee Rd, Madison, WI 53719

Listing Price: $10,943,600

Cap Rate
5.50%
Tenant Name
Pick 'n Save
Years Remaining On Lease
10.3
Gross SF
54,718
Guarantor
Corporate Guarantee
Rentable SF
54,718
Price/Gross SF
$200.00
Lease Type
Double Net
Rent Per Square Feet
$11.00

Investment Overview

Pick 'n Save, a subsidiary of The Kroger Co., operates more than 90 grocery stores throughout Wisconsin with approximately 10,000 employees. Pick 'n Save offers a variety of high quality, affordable brands and provides customers with the convenience of placing pickup or delivery orders. The Kroger Co. (NYSE: KR) is headquartered in Cincinnati, Ohio and is one of the world's largest food retailers. The company's fiscal 2021 sales totaled $137.9 billion. Madison is the county seat of Dane County and the capital of Wisconsin. According to 2020 Census data, the city is home to 269,840 residents, making it the second-most populous city in the state, after Milwaukee. The Madison metro is situated in south-central Wisconsin, roughly 80 miles west of Milwaukee, 150 miles northwest of Chicago, and 270 miles southeast of Minneapolis.

Investment Highlights

  • Tenant Recently Extended the Lease for 10 Years, Showing Commitment to the Site
  • Rental Increases Occurring in Each of Six, Five Year Renewal Options
  • Corporate Guaranty by The Kroger Co. (NYSE: KR), One of the World's Largest Food Retailers with Over 2,700 Locations Across 20 Retail Banners
  • 140,826 Residents and 62,240 Households Within a Five Mile Radius, Projected to Increase Nearly 6 Percent by 2027
  • Average Household Income Exceeds $119,000 Within Five Miles
  • Several Points of Access from Maple Grove Drive, Westin Drive, and McKee Road
  • Less than Two Miles from Sub-Zero's Main Campus Including 1.5 Million Square Feet of Manufacturing and R&D Space
  • Five Minutes from Epic Systems' 1,100-Acre Corporate Campus, Home to a Five-Story State-of-the-Art Event Venue

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00, NE: 20170674

    Phoenix

  • Chris Lind

    Senior Managing Director Investments

    (602) 687-6780

    Email Chris

    License(s): AZ: SA627823000

    Phoenix

  • Mark Ruble

    Executive Managing Director Investments

    (602) 687-6766

    Email Mark

    License(s): AZ: SA550593000, NV: S.0192964

    Phoenix

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Financing By

Grocery Store

Pick 'n Save (Kroger) - Recent Long-Term Lease Extension

Listing Price: $10,943,600

Cap Rate
5.50%
Tenant Name
Pick 'n Save
Years Remaining On Lease
10.3
Gross SF
54,718
Guarantor
Corporate Guarantee
Rentable SF
54,718
Price/Gross SF
$200.00
Lease Type
Double Net
Rent Per Square Feet
$11.00

Investment Highlights

  • Tenant Recently Extended the Lease for 10 Years, Showing Commitment to the Site
  • Rental Increases Occurring in Each of Six, Five Year Renewal Options
  • Corporate Guaranty by The Kroger Co. (NYSE: KR), One of the World's Largest Food Retailers with Over 2,700 Locations Across 20 Retail Banners
  • 140,826 Residents and 62,240 Households Within a Five Mile Radius, Projected to Increase Nearly 6 Percent by 2027
  • Average Household Income Exceeds $119,000 Within Five Miles
  • Several Points of Access from Maple Grove Drive, Westin Drive, and McKee Road
  • Less than Two Miles from Sub-Zero's Main Campus Including 1.5 Million Square Feet of Manufacturing and R&D Space
  • Five Minutes from Epic Systems' 1,100-Acre Corporate Campus, Home to a Five-Story State-of-the-Art Event Venue

Investment Overview

Pick 'n Save, a subsidiary of The Kroger Co., operates more than 90 grocery stores throughout Wisconsin with approximately 10,000 employees. Pick 'n Save offers a variety of high quality, affordable brands and provides customers with the convenience of placing pickup or delivery orders. The Kroger Co. (NYSE: KR) is headquartered in Cincinnati, Ohio and is one of the world's largest food retailers. The company's fiscal 2021 sales totaled $137.9 billion. Madison is the county seat of Dane County and the capital of Wisconsin. According to 2020 Census data, the city is home to 269,840 residents, making it the second-most populous city in the state, after Milwaukee. The Madison metro is situated in south-central Wisconsin, roughly 80 miles west of Milwaukee, 150 miles northwest of Chicago, and 270 miles southeast of Minneapolis.

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00, NE: 20170674

    Phoenix

  • Chris Lind

    Senior Managing Director Investments

    (602) 687-6780

    Email Chris

    License(s): AZ: SA627823000

    Phoenix

  • Mark Ruble

    Executive Managing Director Investments

    (602) 687-6766

    Email Mark

    License(s): AZ: SA550593000, NV: S.0192964

    Phoenix

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

Financing By

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