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17685 W Bluemound Rd - Portillo's Restaurant Ground Lease

2.37 Acres of Commercial Land in Brookfield, WI 53045

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Investment Highlights

Long-term Absolute Net ground lease with Portillo's restaurant
Located within The Corridor of Brookfield - a modern, mixed-use destination development

STNL Investment

Executive Summary

This is a rare opportunity to acquire a coveted land site that is under a long-term ground lease with a popular restaurant that opened to much fanfare in 2016. The initial lease term of 20 years expires in 2036 and the occupier has four, five year options to extend their lease.
Key features of this offering include:
- 12+ years remaining on the lease with four (4), five (5)-year options to extend for a high-quality, investment-grade Tenant (Portillo’s).
- Project is in a high-traffic retail corridor in southeastern Wisconsin where there are strong demographics and desirable adjacencies.
- Building is newly constructed.
- Waukesha County is business-friendly, with low taxes and a great economic base.
- This is a rare opportunity to acquire a ground lease for a sought-after retailer/restaurant.

Portillo's Ground Lease Opportunity

Property Facts

Sale Type	Investment	Property Subtype	Commercial
Sale Conditions	Ground Lease (Leased Fee)	Proposed Use	Restaurant
No. Lots	1	Total Lot Size	2.37 AC
Property Type	Land

Sale Type	Investment
Sale Conditions	Ground Lease (Leased Fee)
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Restaurant
Total Lot Size	2.37 AC

1 Lot Available

Lot

Lot Size	2.37 AC

Lot Size	2.37 AC

This premier parcel is located in a high traffic area on a major east/west thoroughfare in suburban Milwaukee. The lot is under a long-term ground lease with Portillo's, a sought-after and popular fast-casual restaurant.

Description

The Project is located on Bluemound Road in Brookfield, within The Corridor development which many consider to be one of the premier retail sites in the State of Wisconsin. The Corridor is a mixed-use project that was developed by Irgens. It is bordered by Bluemound Road to the north, Interstate 94 to the south and Calhoun Road to the east. The Corridor features retail, hospitality, healthcare, fitness and corporate office uses. It offers excellent access and connectivity to the surrounding region and a unified design concept with walkability and sustainability features throughout. Only one retail site at The Corridor remains open for development and will be under construction in the fall of 2024.