Glendale, WI - Target

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate signed, investment grade (S&P: A), Target investment property located in Glendale, WI (Milwaukee MSA). The tenant has over 10 years of firm term remaining with an additional 10 (5-year) option periods to extend. The lease features scheduled 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: A | NYSE: TGT), and is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. The subject property affords an investor the rare opportunity to acquire a generational legacy asset leased to one of the premier retailers in the world, with unmatched underlying intangibles, while further mitigating risk with far-below market rent and an acquisition price substantially below replacement cost.

Target is ideally situated near the signalized, hard corner intersection of Silver Springs Drive and Port Washington Road, averaging a combined 54,900 vehicles passing by daily. The asset also fronts Interstate 43 (92,700 VPD), a major commuter route providing direct access into Downtown Milwaukee. Target serves as an anchor to Bayshore, a 1.27M+ SF Mixed Use Center. Bayshore’s additional tenants include Kohl’s (shadow), Barnes & Noble, Trader Joe’s, Old Navy, Apple, Total Wine & More, and The Cheesecake Factory, among many others. Bayshore is among the most visited centers in the country with over 6.4M annual visits, ranking in the 97th percentile nationwide (February 2025 – January 2026, per Placer.ai). The strong trade area is home to a wide variety of nearby national/credit tenants including The Home Depot, Starbucks, Sendik’s Food Market, Panera Bread, and others.

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