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|Current / Passing Rent||
|Remaining Term||18 years, 6 months|
|Tenant||Mills Fleet Farm Corporate|
JLL is pleased to offer for sale the freestanding single-tenant Fleet Farm, located in Madison, Wisconsin. Madison is the state capital and the home of The University of Wisconsin with over 44,000 students. Strategically positioned along state Highway 19 (±18,000 VPD) and adjacent to Interstate 90 (±67,100 VPD), the property benefits from the passing traffic and ease of accessibility throughout the Madison trade area.
The property was built in 2018 and is leased to Fleet Farm, an established retail operator with 45 locations throughout the Midwest. The offering presents the opportunity to acquire a property leased to a preeminent retail operator in the Midwest.
• Fee simple interest
• Absolute NNN lease structure and 18 years remaining
• Contractual rental increases throughout primary term and renewal options
• Plans to double store count by 2023 end (from the date of KKR $1.6 billion acquisition in 2016)
• Only Fleet Farm in all of Madison with a population of over 600,000 residents
• Average household income of $116,864 within a 3-mile radius