The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Piggly Wiggly property located at 1330 Memorial Drive in Watertown, Wisconsin for $3,250,000.
The 27,000 square foot building benefits from its location off State Highway 16, which is a primary north – south thoroughfare that connects to State Highway 26. The property is positioned next to Watertown Regional Medical Center, one of the most established inpatient/ outpatient healthcare facilities in the area as they have been around for more than 100 years. This Piggly Wiggly location is less than 2.5 miles from downtown Watertown and 50 miles from Milwaukee and Madison. There are 32,156 people living within 7 miles of the property with an average household income in excess of $59,133.
Jimmy Goodman and John Feeney of The Boulder Group represented the Seller in the transaction who is a Wisconsin-based individual. The buyer was a Wisconsin-based investor.
The Piggly Wiggly lease expires on December 31, 2029 and features three 5-year renewal options. Today there are more than 530 Piggly Wiggly stores serving communities in 17 states. All Piggly Wiggly stores are independently owned and operated, and though they are located primarily in the Southeast, there are Piggly Wiggly stores and as far north as Wisconsin.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Jimmy Goodman, Partner of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “Investors pay a premium for grocery stores with a strong sales history.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $6 billion of single tenant net lease real estate transactions. From 2012-2020, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
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Address:3520 Lake Avenue Suite 203
Country: United States