This document provides an offering for a net leased Shopko property located in Sussex, Wisconsin. The 80,000 square foot property was built in 2009 and has over 16 years remaining on the primary lease term. Shopko is the tenant with rental escalations in the primary term and four 5-year renewal options. The property benefits from its location in an affluent area with average household incomes over $95,000 within 10 miles and traffic along a major road of over 22,000 vehicles per day.

1. NET LEASED INVESTMENT OFFERING
Shopko
N66W25201 County Highway VV
Sussex, WI 53089 (Milwaukee MSA)
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1) Confidentiality & Disclaimer
2) Executive Summary
3) Property Overview
4) Aerial
5) Map
6) Tenant Profile
7) Demographic Comparison Report
8) Location Overview
9) Contact Information
www.bouldergroup.com

3. CONFIDENTIALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to
any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been
prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary
level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or
representation. The information contained in this Offering Memorandum has been obtained from sources we
believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information
contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no
warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All
potential buyers must take appropriate measures to verify all of the information set forth herein.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Shopko property located in the
Milwaukee MSA. The long term lease features rental escalations in the primary term and options periods and the property
features a drive thru pharmacy on site. The property benefits from its location in the Shops at Sussex, adjacent to Kohl’s.
Shopko is a chain of 136 retail stores that provides quality name-brand merchandise along with pharmacy and optical
services.
The 80,000 square foot property was built in 2009 and has over 16 years remaining on the primary term of the lease. The
property is located in the primary retail trade area and is adjacent to Kohl’s. There are three points of ingress and egress;
two along County Highway VV and the other on Highway 164 for the Shops at Sussex, which is anchored by Shopko and
Kohl’s. Other nearby retailers include Pick N’ Save, Walgreens, McDonald’s, Starbucks and AutoZone. Highway 164 is a
primary north-south thoroughfare of the trade area and has traffic volumes in excess of 22,000 vehicles per day. Sussex is
an affluent community and residents living within ten miles of the property enjoy average household income in excess of
$95,000 annually.
Shopko’s original lease term was for 20 years and the lease expires in February 2029. The lease features a 10% rental
escalation in 2019 as well as four 5-year renewal options at escalated rents. Shopko is a privately-held company with a
136 locations in 13 states.
INVESTMENT HIGHLIGHTS
• Located within the Milwaukee MSA
• Long term lease with over 16 years remaining
• 10% rental escalation in the primary term of the lease
• Adjacent to Kohl’s
• Nearby retailers include Pick N’ Save, Walgreens, Starbucks,
McDonalds and AutoZone
• Traffic volumes along Highway 164 (22,900 VPD)
• Average household income in excess of $95,000 within ten miles
of the property
• On site drive thru pharmacy
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price: $9,965,457
Cap Rate: 8.10%
Rent Schedule: NOI Escalation Date
$ 807,202
$ 887,922 2/4/2019
$ 976,714 2/4/2029 (Option 1)
$ 1,074,384 2/4/2034 (Option 2)
$ 1,181,824 2/4/2039 (Option 3)
$ 1,300,700 2/4/2044 (Option 4)
Renewal Options: Four 5-Year with escalations
Lease Commencement Date: February 4, 2009
Lease Expiration Date: February 3, 2029
Year Built: 2009
Tenant: Shopko
Lease Type: NN
Rentable Square Feet: 80,000 SF
Land Size: 8.00 acres
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6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
www.bouldergroup.com

7. MAP
NET LEASED INVESTMENT OFFERING
MAP
www.bouldergroup.com

8. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
Shopko is a chain of retail stores based in Green Bay, Wisconsin. Shopko operates 136 stores located in 13 states
and generates annual sales of approximately $2.2 billion. Shopko provides quality name-brand merchandise, great
values, pharmacy and optical services in small to mid-sized cities. In December 2005, the company was acquired by
an affiliate of Sun Capital Partners. In 1999, Shopko purchased Pamida, a regional discount chain that operated
mainly in smaller communities of 3,000 to 8,000 people. Shopko operated Pamida as a separate division until
2007, however in 2012, Shopko and Pamida merged into one company with most Pamida stores becoming Shopko
Hometown stores.
Shopko operates under three different brands; Shopko, Shopko Express and Shopko Hometown. Shopko Express is a
chain of pharmacies that carry a limited selection of general merchandise, groceries, beer, wine, health and beauty
supplies, and over-the-counter medicines. Shopko Hometown, is Shopko’s newest concept which is 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. In addition to the multiple brands Shopko operates under Shopko, in 1999, signed a contract
with Payless Shoes to lease the chain floorspace within Shopko stores.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other
investments in market-leading companies that can benefit from its in-house operating professionals and experience.
Sun Capital affiliates have invested in and managed more than 165 companies worldwide with combined sales in
excess of $35.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles,
and New York, and affiliates with offices in London, Tokyo, and Shenzhen, China.
Website: www.shopko.com
Number of Locations: 136
State Locations: 13
Standard & Poor’s Rating: Private
Employees: 16,000
www.bouldergroup.com

9. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population 3-mi. 5-mi 10-
10-mi
Total Population 17,948 45,326 250,432
Total Households 6,740 17,855 99,255
Income
Median Household Income $84,831 $84,262 $80,474
Average Household Income $92,925 $96,440 $95,993
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10. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Sussex is located in Waukesha County, Wisconsin, approximately 19 miles northwest
of Milwaukee. Sussex is home to Quad Graphics, an American printing company that
has forty printing facilities in the United States and employs 28,000 people. Quad
Graphics prints numerous magazines, including BusinessWeek, Milwaukee Magazine,
Newsweek, Time, Sports Illustrated and People. Waukesha County has a population
of 380,629.
http://www.village.sussex.wi.us/
Milwaukee is the largest city in Wisconsin and the 28th most populous city in the
United States. Milwaukee is located on the southwestern shore of Lake Michigan.
According to the 2010 U.S. Census, the City of Milwaukee had a population of
594,833 and the Milwaukee MSA had a population of 1,751,316.
Milwaukee and its suburbs are the home to the international headquarters of 13
Fortune 1000 companies, including Johnson Controls, Northwestern Mutual,
Manpower Inc., Jefferson Wells, Kohl's, Harley-Davidson, Rockwell Automation,
Fiserv, Inc., Hal Leonard, Wisconsin Energy, Briggs & Stratton, Joy Global, Bucyrus
International, A.O. Smith, GE Healthcare Diagnostic Imaging and Clinical Systems and
MGIC Investments. The Milwaukee metropolitan area ranks fifth in the United States
in terms of the number of Fortune 500 company headquarters as a share of the
population.
http://city.milwaukee.gov
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11. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road Suite 1801
Northbrook, IL 60062
Randy Blankstein Jimmy Goodman
President Partner
847.562.0003 847.562.8500
rblank@bouldergroup.com jimmy@bouldergroup.com
www.bouldergroup.com