Gander Mountain

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LTV (Loan to Value)	0.00%	Current NOI
Interest Rate	0.000%	Cap Rate	0.000%
Fixed Term	3 Years, 5 Months Years	Land Area
Amortization	Years	Lease Type
Loan Amount		Property Type
Payment		Property Lease
Building Size		Remaining Terms

Location Description

Appleton is a city in Outagamie, Calumet, and Winnebago counties in the north central part of Wisconsin. The largest of the “Fox Cities”, it is situated on the Fox River, 30 miles southwest of Green Bay and 100 miles north of Milwaukee. Appleton is the county seat of Outagamie County with a population of 72,623 as of the 2010 census. The population breaks down as follows: 60,045 in Outagamie County, 11,088 in Calumet County, and 1,490 in Winnebago County. Appleton is the primary city of the Fox Cities Metropolitan Statistical Area, which had a population of 392,660 as of the 2010 census. The property is conveniently located along and has visibility from Highway 41 (57,463 VPD), which circumvents the MSA. The trade area is anchored by the Fox River Mall, which is the second-largest mall in Wisconsin. Nearby retailers include Woodman's, Home Depot, Burlington Coat Factory and a 14 screen Marcus Hollywood Cinema, all driving traffic to the subject site. The Appleton economy is anchored by Paper, Metals-Machinery, and Financial Services industries. In fact, the Fox River Valley is home to the highest concentration of paper-making facilities in the world with 80 paper manufacturing facilities and 90 publishing companies. This accounts for more than 10 percent of the area's total employment and one-third of all manufacturing employment. Of nearly as great importance is the metals-machinery industry, which produces welders, fire and utility trucks, crushing and screening equipment, farm machinery, and iron and brass castings. The local economy is diversifying with six insurance companies now headquartered in the Fox Valley, as well as a growing network of thriving financial institutions.

Highlights

Proven Corporate Location – Gander Mountain has been at this location for 23 years. They have renewed their lease 4 times already. Major Retail Hub – The subject property is part of Appleton’s Fox River Mall trade area. The GGP owned mall features 1.2 million sf and is anchored by Macy’s, JCPenney, Target, Younkers, and Sears. This trade area is the primary shopping destination for consumers in central and northeastern Wisconsin, drawing 16 million shoppers a year. Highway Visibility and Access – The subject site is easily seen from Highway 41 (57,463 VPD) with great visibility and two interchanges nearby. The property is anchored by Woodman’s, one of Wisconsin’s dominant grocers, and a 14 screen Marcus Hollywood Cinema. Other immediately nearby retailers include Home Depot, PetSmart, Sam’s Club, Burlington Coat, Applebee’s, and Culver’s. High Yield and Value Add Opportunity – With an offering cap rate of 9.00%, this investment offers the potential for long term yield and value add creation. The rent of $12.16/sf is below market for the area, with many other similar sized retailers paying 15%-80% higher rents nearby. The tenant has used up all of its option periods. Growing Market – There are 50,799 people within 3 miles of the site and 130,948 within 5 miles. The trade area draws from over 538,000 people in total, which is expected to increase to 550,000 over the next 5 years. Strong Brick and Mortar Tenant – Gander Mountain has figured out how to sustain being a brick and mortar retailer by focusing on its new Gun World concept. The company recently retrofitted the majority of its stores by offering the best selection of firearms available, which cannot be purchased online. Annual Rent Increases – Rent increases 3% per year.

NNN Loans Funding

Triple-Net Lease Financing arranged by NNNLenders. Offering Triple Net NNN Property Loans.