TJ Maxx / HomeGoods & La-Z-Boy | Appleton MSA Investment

Highlights:

• NATIONAL CREDIT TENANCY: Integrity Way Retail Center is 100% leased to TJ Maxx / HomeGoods and LaZ-Boy Furniture Gallery, two nationally recognized retail tenants. TJX provides
• best-in-class retail credit, while La-Z-Boy adds a second established national brand backed by a corporate guaranty from La-Z-Boy Incorporated.
• LA-Z-BOY REMODEL: La-Z-Boy completed a comprehensive store remodel in the spring of 2026, investing approximately $800,000 to $900,000 into the location. This significant capital commitment demonstrates the tenant’s strong demand for the site and reinforces its long-term commitment to the property. In connection with the remodel, the Landlord contributed two months of half rent and $50,000 toward the replacement of the HVAC system.
• TOP-PERFORMING TJ MAXX / HOMEGOODS LOCATION: TJ Maxx / HomeGoods is the primary income driver at the Property and has demonstrated strong store performance at this Appleton location. Tenant reports sales as a result of a percentage rent clause in its Lease.
• ESTABLISHED FOX VALLEY RETAIL LOCATION: The Property is located in the Appleton / Grand Chute retail market, one of Northeast Wisconsin’s premier regional shopping destinations. The surrounding corridor benefits from exceptional national retail co-tenancy, including Walmart, Costco, Menards, and Fox River Mall, reinforcing the area’s strong regional draw, convenient access, and broad consumer base throughout the Fox Valley.
• STABILIZED LARGE-FORMAT RETAIL ASSET: Integrity Way Retail Center offers a simplified, 100% occupied two-tenant operating profile with limited historical recovery slippage and predictable NOI. Both TJX and La-Z-Boy recently extended their leases, with expirations on October 31, 2031, and July 31, 2030, respectively, providing durable near-term cash flow and reduced rollover exposure.

Description:

Mid-America Real Estate – Wisconsin, LLC has been exclusively retained by ownership to offer the fee simple condominium interest in Tj Maxx / La-Z-Boy Center, a two-tenant national retail asset located along Integrity Way in Appleton, Wisconsin. The offering consists of two of the three units within the condominium association, leased to TJ Maxx / HomeGoods and La-Z-Boy Furniture Galleries. The third unit on the property is occupied by Altitude Trampoline Park and Luv 2 Play and is not included in this offering. The asset provides investors with durable income from two nationally recognized retail brands within one of the Fox Valley’s primary regional retail corridors.

The offering provides investors with a rare opportunity to acquire a stabilized, large-format retail investment supported by established tenant operating histories, scheduled rent growth, corporate-level tenancy, and a highly functional retail location serving Appleton, Grand Chute, and the broader Fox Valley trade area.

Tj Maxx / La-Z-Boy Center is a national retail investment located along Integrity Way in Appleton, Wisconsin. The offering consists of the TJ Maxx / HomeGoods and La-Z-Boy Furniture Gallery units within a larger three-unit retail building, with the remaining unit separately excluded from the offering. Based on the tenant leases, the Property includes approximately 73,000 square feet of leased space.

The Property benefits from its position within a highly established Appleton / Grand Chute retail corridor, one of Northeast Wisconsin’s primary shopping destinations. The broader retail environment serves the greater Fox Valley trade area and is supported by strong national co-tenancy, convenient access, and a deep regional consumer base.

The TJ Maxx / HomeGoods premises contains approximately 50,000 square feet and is leased directly to The TJX Companies, Inc. The tenant recently exercised its option to extend the lease through October 31, 2031 and retains additional extension options thereafter.

The La-Z-Boy premises contains approximately 23,000 square feet and is leased to LZB Retail, Inc., successor by merger to La-Z-Boy Showcase Shoppes, Inc. The lease is backed by a guaranty from LaZ-Boy Incorporated and has been extended through July 31, 2030. The tenant’s recent extension includes a planned store remodel requirement, further demonstrating its continued commitment.

From an operating standpoint, the leases are structured as pro rata NNN shopping center leases, with tenants reimbursing for their applicable shares of operating costs, taxes, insurance, utilities, and other recoverable expenses, subject to lease-specific caps and exclusions. Historical unrecovered expense slippage has remained limited relative to total income, supporting a clean and predictable NOI profile.

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