Boulder Group Closes Deal for Wisconsin Piggly Wiggly
The Boulder Group completed the sale of a single-tenant, net-leased Piggly Wiggly supermarket at 1330 Memorial Dr. in Watertown, WI, about 50 miles from both Milwaukee and Madison, for $3,250,000. Its current lease runs through 2029, with three five-year renewal options.
Jimmy Goodman and John Feeney of The Boulder Group represented the Wisconsin-based seller. The buyer is also based in Wisconsin.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Jimmy Goodman, partner of The Boulder Group.
Added SVP Feeney, “Investors pay a premium for grocery stores with a strong sales history.”
With each of its 530-plus locations independently owned and operated, Piggly Wiggly is largely concentrated in the Southeast. However, the chain has more than 60 stores in Wisconsin.