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Department Store

Maurices

2894 Roosevelt Rd, Marinette, WI 54143

Listing Price: $743,000

Cap Rate
7.75%
Tenant Name
Maurices
Years Remaining On Lease
1.0
Gross SF
5,005
Guarantor
Corporate Guarantee
Rentable SF
5,005
Price/Gross SF
$148.45
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.50

Investment Overview

Marcus & Millichap is pleased to exclusively present for your acquisition review the net leased Maurices in Marinette, Wisconsin. The 5,005 square foot building was built-to-suit for Maurices in 2012, with Maurices signing an original 10-year lease. The current lease expiration is January 31, 2023, leaving more than 2 years of base lease term left with a rent increase in February 2023 and increases every five years after. There are four, five-year renewal options in total, all of which having a rent increase. 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 positioned as an outparcel to the Walmart Supercenter behind it and sits in between a Shopko Express, Peshtigo National Bank and a GameStop anchored strip center. Aldi, Tractor Supply Co and Fantastic Sams are all adjacent to Maurices across the street. The Pine Tree Mall is down the street and is home to Kohl’s, T.J.Maxx, Petco, Dollar Tree, Planet Fitness, Dunham Sports, Harbor Freight, Famous Footwear, Applebee’s and several others. There is a Menards just north of the Pine Tree Mall and numerous other national retailers nearby including Shopko, Burger King, McDonald’s, Taco Bell, Arby’s, Goodwill and many more. Maurices was founded in 1931 and is headquartered in Duluth, Minnesota and has since grown to more than 1,015 locations across the United States and Canada. Maurices is owned by Ascena Retail Group, which is publicly traded on the NASDAQ under the ticker symbol “ASNA”.

Investment Highlights

  • Outparcel to Walmart Supercenter | Adjacent to Aldi & Tractor Supply Co
  • Built-to-Suit for Maurices in 2012 | No Deferred Maintenance
  • Original 10-Year Lease | 2+ Years Remaining | Rent Increase in February 2023
  • Modified NNN Lease | Minimal Landlord Responsibility | Tenant Responsible for CAM, Taxes & Insurance
  • Four, Three-Year Renewal Options Available with Rent Increases in Each
  • Maurices has 930+ Locations Across the U.S. & Canada
  • Maurices is Owned by Ascena Retail Group | Publicly Traded on the NASDAQ "ASNA"

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s) WI: 56163-90

    Wisconsin

Department Store

Maurices

Listing Price: $743,000

Cap Rate
7.75%
Tenant Name
Maurices
Years Remaining On Lease
1.0
Gross SF
5,005
Guarantor
Corporate Guarantee
Rentable SF
5,005
Price/Gross SF
$148.45
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.50

Investment Highlights

  • Outparcel to Walmart Supercenter | Adjacent to Aldi & Tractor Supply Co
  • Built-to-Suit for Maurices in 2012 | No Deferred Maintenance
  • Original 10-Year Lease | 2+ Years Remaining | Rent Increase in February 2023
  • Modified NNN Lease | Minimal Landlord Responsibility | Tenant Responsible for CAM, Taxes & Insurance
  • Four, Three-Year Renewal Options Available with Rent Increases in Each
  • Maurices has 930+ Locations Across the U.S. & Canada
  • Maurices is Owned by Ascena Retail Group | Publicly Traded on the NASDAQ "ASNA"

Investment Overview

Marcus & Millichap is pleased to exclusively present for your acquisition review the net leased Maurices in Marinette, Wisconsin. The 5,005 square foot building was built-to-suit for Maurices in 2012, with Maurices signing an original 10-year lease. The current lease expiration is January 31, 2023, leaving more than 2 years of base lease term left with a rent increase in February 2023 and increases every five years after. There are four, five-year renewal options in total, all of which having a rent increase. 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 positioned as an outparcel to the Walmart Supercenter behind it and sits in between a Shopko Express, Peshtigo National Bank and a GameStop anchored strip center. Aldi, Tractor Supply Co and Fantastic Sams are all adjacent to Maurices across the street. The Pine Tree Mall is down the street and is home to Kohl’s, T.J.Maxx, Petco, Dollar Tree, Planet Fitness, Dunham Sports, Harbor Freight, Famous Footwear, Applebee’s and several others. There is a Menards just north of the Pine Tree Mall and numerous other national retailers nearby including Shopko, Burger King, McDonald’s, Taco Bell, Arby’s, Goodwill and many more. Maurices was founded in 1931 and is headquartered in Duluth, Minnesota and has since grown to more than 1,015 locations across the United States and Canada. Maurices is owned by Ascena Retail Group, which is publicly traded on the NASDAQ under the ticker symbol “ASNA”.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s): WI: 56163-90

    Wisconsin

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