First Watch

Highlights:

• New 2026 Build-to-Suit First Watch restaurant investment
• 10-Year lease term with three (3) x 5-year options
• 10% rental increases every 5 years (and during each option)
• Publicly traded corporate tenant: First Watch Restaurants, Inc. (NASDAQ: FWRG)
• 3,850 SF building on 1.16 acres
• Strong co-tenancy and daily traffic drivers (Panera Bread + Chipotle)

Description:

Mid-America Real Estate Wisconsin, LLC has been retained on behalf of ownership to sell a newly constructed First Watch build-to-suit investment opportunity located within the Olympia Fields Development in Oconomowoc, WI. The property is strategically positioned near I-94 and Highway 67, providing strong regional access between Milwaukee and Madison. Olympia Fields is undergoing a significant multi-phase transformation into a high-quality mixed-use destination with planned and approved developments including Chipotle Mexican Grill (under construction) and “The Social”, a ±60,000 SF year-round entertainment and sports complex (pickleball, golf simulators, bowling, axe-throwing, live music, restaurant/bar) with 88 townhome units, plus additional residential and retail density throughout the site. The asset is supported by affluent Lake Country demographics and features a 10-year lease with 10% escalations every five years and in each option period, executed directly by First Watch Restaurants, Inc. (NASDAQ: FWRG).

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