Pick ‘N Save West Bend
2010Year Acquired |
52,000 SFCommercial Space |
SoldStatus |
Roundy’s Grocery Store Development
Replacement of an aging store in West Bend. Project team included Schroeder Holt Architects, Kraus Anderson Construction, Kapur & Associates engineers, the Hoff Group, and the Private Bank. Site was an operating hotel acquired from West Bend businessman Bob Gannon. Access was improved for an adjacent Applebee’s, with construction carefully staged to ensure their uninterrupted business. New dedicated turn lane was added on Highway 33. Store opened in early 2010.
KEY THEMES
- Large-format grocery retail development expanded General Capital's portfolio of neighborhood-serving commercial properties throughout Wisconsin
- Strategic West Bend location supported an essential retail use designed to serve the surrounding community and regional customer base
- Purpose-driven retail investment focused on creating long-term value through a well-positioned grocery property
- Project strengthened General Capital's experience developing, owning, and repositioning grocery-anchored commercial real estate
- Disciplined investment strategy positioned the property for strong financial performance and an eventual successful disposition
RESULTS
- Successfully delivered a 52,000 SF Pick 'n Save retail property serving the West Bend market
- Generated a 61.52% gross IRR and 36.64% net IRR over the investment lifecycle
- Achieved a 2.34x gross equity multiple and 1.73x net equity multiple
- Expanded General Capital's portfolio of large-format grocery and neighborhood retail investments across Wisconsin
- Successfully completed the disposition of the property following execution of the investment strategy
Related Commercial Projects
Project
