Kunofsky, Roulette and Osting of Marcus & Millichap broker $10 sale of Shopko

Madison, WI Marcus & Millichap a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of a 94,120 s/f absolute-triple-net-leased Shopko. The $10 million sales price equates to $106 per s/f. Glen Kunofsky, an executive vice president investments in Marcus & Millichap’s Manhattan office, represented the seller. Jeff  Rowlett, a vice president investments, and Jeremy Osting, an associate, both in the firm’s Milwaukee office, procured the buyer, a private investor. Matt Fitzgerald, first vice president, is the firm’s broker of record in Wisconsin. “This quick and easy acquisition was a great opportunity for the seller, who has closed on 14 additional Shopko locations under the guidance of our team, “said Kunofsky. “In addition to acquiring a solid asset in a great location, the buyer secured a long-term lease with a strong tenant.” Shopko is ideally positioned across from East Towne Mall and situated right off East Washington Ave., which experiences traffic counts of over 45,000 vehicles per day. The building is located at 2201 Zeier Rd. in Madison. The asset was built in 1988 on approximately eight acres and renovated in 2004. Within a five-mile radius there are over 48,000 households and 109,000 people. Nearby retailers include Kohl’s, DSW, Burlington Coat Factory and Payless Shoes.