Marcus & Millichap is pleased to present the Starbucks and McDonald's Shadow Center located in Menomonie, Wisconsin.
The Seller just recently completed the buildout for Five Below in their new space, Five Below's grand opening was October 10. The Nail Spa was also moved to a new space, with the Seller building out that space as well. The center is offered fully stabilized at 100 percent occupancy, with 80 percent of the GLA leased until at least 2033, providing low rollover risk for an investor. A majority of the tenants have streamlined reimbursements with no year-end reconciliation obligations, which provide a clean and fully retained income stream and which supports a more consistent and predictable cash flow. The property is offered well below replacement at $83 per square foot.
The 130,000 square foot building shadows Starbucks, McDonald's, and Taco Bell, and is positioned with direct access to Interstate 94. Walmart is located on the other side of the interstate, which is a major traffic and economic driver along North Broadway. The University of Wisconsin-Stout campus is about 1.8 miles from the center. UW-Stout has enrollment of 6,900 students across it's 124 acre campus with 25 major academic buildings and 9 residence halls. UW-Stout is a part of the University of Wisconsin System, which includes several other universities including the University of Wisconsin-Madison (41,900+ students).