Single Tenant Pick n’Save

640 East Main Street
Sun Prairie, Wisconsin 53590

  • Purchase Price
  • Sale Price
  • Hold Period
    1 Year and 2 Months
  • Net IRR
  • Ending Occupancy

Anchor Tenants

Property Overview

Pick n’ Save is a single-tenant, NNN Lease, freestanding grocer only 15 miles from the city of Madison, WI. Immediately, this property drew our team’s attention for its proximity to this large urban center and a highly affluent, growing market (over 9.4% population growth projected in the next five years). Our team also recognized the strength of Pick n’ Save being a subsidiary of Kroger, which saw strong, steady sales even throughout the COVID-19 pandemic. FNRP purchased Pick n’ Save in February 2021 for $13M, and projected a 14.2% IRR for investors.

Pick n’ Save became our fastest property to be acquired and disposed of after only holding for a year and two months. Originally, FNRP planned to hold the site for seven years. However, due to the success of this site, a buyer approached us with a strong offer for the site. Therefore, we decided to sell the property earlier than expected to collect significant returns for investors.

Property Highlights

  • Besides being backed by Kroger’s exceptional credit as a leading grocer, Pick n’ Save is a regional favorite, with over 100 Pick n’ Save stores in Wisconsin.
  • Originally planned for a 7-year hold, FNRP was approached by an unsolicited buyer and was able to sell the asset for over $17M after the first year of owning Pick n’ Save.
  • Because of the early, substantial sale, investor IRR grew from 14.2% to 45.01%.




Investor Relations

  1. Net IRR (Internal Rate of Return) is defined as the average annualized, compound rate of return using equity contributions and distributions as they occurred on specific dates during the investment period reflective of all fees charged and paid to First National Realty Partners, LLC and its affiliates and subsidiaries. Securities are only available to verified accredited investors who can bear the loss of their investment. Please contact FNRP for an explanation of how such numbers are calculated.
commercial real estate deals
Please enter your email address to access Deal Lobby Content.