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Chicago & Midwest  + Midwest  + Retail  | 

Boulder Group Closes Deal for Milwaukee-Area Grocery

The Boulder Group completed the sale of a single-tenant net leased Pick ‘n Save property in the Milwaukee suburb of Menomonee Falls, WI for $28,428,000. The lease is guaranteed by Kroger, an investment-grade tenant.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based real estate company, and the buyer is a West Coast-based real estate investment company.

The 103,611-square-foot Pick ‘n Save property is located along Appleton Avenue, which is the primary north-south thoroughfare in the area.

There is approximately 11 years remaining in the primary term of the lease, with rental escalations every five years. The property was built in 2011.

“The market for stand-alone grocery properties remains active due to their built-in customer base,” said Blankstein, president of The Boulder Group. Added Goodman, “Investors pay a premium for grocery stores with a strong sales history.”

For comments, questions or concerns, please contact Paul Bubny

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Inside The Story

Connect With Boulder Group's Blankstein and Goodman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Lease