American Freight & Roden's Elegant Gardens

The Boulder Group is pleased to exclusively market for sale a multi-tenant net leased American Freight & Roden’s Elegant Gardens located in Janesville, Wisconsin. American Freight has been successfully operating at this location for over three years while Roden’s recently signed a lease through 2028. There are no landlord responsibilities associated with Roden’s. Additionally, there are 10% rental escalations scheduled for years 3, 6, and 8 of the leases. American Freight features roughly 5% rental escalation in each option.
The 17,332 square foot property is part of the 38,423 square foot building that is also leased to USPS. The property is located at the hard corner of a signalized intersection along Milton Avenue, a primary north-south thoroughfare. The property is well located in a retail corridor with Big Lots, Walmart, Target, Ulta Beauty, Dick’s Sporting Goods, Walgreens, Kroger, Dunkin’, Goodwill, Wendy’s, McDonald’s, Office Max, and many more. The property is also ideally positioned near a large FedEx warehouse and distribution cen-ter. There are 68,114 people living within five miles of the property earning an average annual household income of $72,478.
American Freight Furniture, Mattress, Appliance, or American Freight is an American retail company that sells furniture, mattresses, and home appliances. In 1994 when Steve Belford established American Freight Furniture & Mattress in Lima, Ohio, to provide working families with affordable furniture options. The store’s strategy was to use modest warehouses to store the company’s furniture, and therefore eliminate markups associated with high-end showrooms. The company was successful and by 2014 was operating 95 stores in 18 states, and October that year was acquired by an affiliate of private equity firm The Jordan Company of New York. The company was acquired by Franchise Group for US$450M.