Single-Tenant WI Retail Asset Trades for $3M
- Apr 04, 2019
The Quantum Real Estate Advisors team of President Chad Firsel and Vice President Zack Hilgendorf has represented both parties in the $2.9 million sale of a 4,442-square-foot retail property in Fitchburg, Wis. A Seattle-based private investor acquired the asset from a Chicago developer specializing in net lease property acquisitions and development.
Situated at 2844 Fish Hatchery Road, the building is close to several residential properties and retail options such as Dairy Queen Grill & Chill, Wendy’s and KFC. Adjacent to Fish Hatchery Road, the location provides quick access to Highway 151. At the time of sale, the asset was fully leased to Popeyes, with roughly 20 years remaining on the lease—the longest Popeye lease on the market.
“Demand for Quick Services Restaurants deals with a strong operator and proven sales remain very strong and this deal was just another example of this trend,” said Hilgendorf, in a prepared statement.
In a similar transaction last August, Quantum Real Estate Advisors brokered the $1.6 million sale of a 7,489-square-foot retail asset in Cleveland’s Clark-Fulton neighborhood.
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