Investment Highlights:
- Triple Net Lease (No Landlord Responsibilities)
- Corporate Guarantee
- Recently Extended Eight Years (8+ Years Remain)
- Four - Five Year Options To Extend
- Shadow Anchored By The Towns Only Grocer (Schmitz's Economart)
- Long Term Tenancy (Occupied Since 1985)
This Investment consists of a 43,730 SF, Single Tenant building leased to Shopko Hometown. The building was built in 1985 when the tenant first moved in, since then they have remodeled in 2012 converting the store into the new Shopko Hometown concept. Shopko Hometown is the newest concept by Shopko aimed at smaller communities ranging from 3,000 to 8,000 in population, and carry about 70% of the merchandise carried at Shopko's larger stores. The lease was recently extended eight years leaving 8+ years remaining expiring on 1/31/2024. It is structured as Triple Net whereas the Tenant is responsible for CAM, Taxes, Insurance, Repairs & Replacements.
Spooner is located in northwest, WI approximately 75 miles from Eau Claire, 75 miles from Duluth, MN and 110 miles from Minneapolis/St.Paul. Spooner is the largest city in Washburn county and is known for year round recreational activities making it a vacation destination area.
Shopko is a private company owned and operated by Sun Capital. Shopko is headquartered in Green Bay, Wisconsin which is 150 miles to the east of this property. Shopko has 136+ locations across 13 States. Strong Financials are available with confidentiality agreement.
