**In addition to the payment of Basic Rent, an additional rent in an amount equal to eight and one-half percent (8 1/2%) of Lessee's gross sales from all business conducted on the Demised Premises during each calendar year, less the aggregate payments during such calendar year, of Basic Rent. In the event the aforementioned payments of Basic Rent for any calendar year exceed the additional rent, Lessee shall not use the amount of the excess payments as a credit to reduce the amount of additional rent payable in succeeding years.
On January 1, 2021, and on January 1 of each year thereafter, the annual Basic Rent (and the corresponding monthly installments of Basic Rent) payable by Lessee under the Lease shall be increased by an amount equal to fifty percent (50%) of the additional (percentage) rent payable during the immediately preceding lease year, which said increase shall be paid retroactively in a lump sum for those months during the current lease year which elapse prior to its calculation.
The subject investment property is situated on East Commerce Boulevard, which boasts an average daily traffic count of 21,000 vehicles. East Commerce Boulevard serves as an access road to interstate 41, which brings an additional 86,000 vehicles into the immediate area daily. The subject property benefits from its strong demographics and growing population. There are more than 22,500 individuals residing within a five-mile radius of the property and more than 104,500 individuals within a ten-mile radius, these figures have increased by 23% and 16%, respectively, since 2000 and are projected to continue growing. Additionally, the property is situated in an affluent community. The average income within a five-
mile radius is greater than $100,000, which is 68% higher than the state average.
This Burger King benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, shopping centers, and academic institutions, that are all within a close proximity of this property. National tenants within immediate proximity include Piggly Wiggly, Dollar General, O’Reilly Auto Parts, Fresenius Kidney Care, Subway, Chevrolet, Chrysler Jeep Dodge Ram and more. The Burger King investment property benefits from being located in a one-and one-half mile radius of Slinger High School and Middle School. The two schools have a combined enrollment of 1,500 students. Additionally, the subject Burger King is located less than two mile from Little Switzerland Ski Resort, which is one Wisconsin’s oldest ski hills. Furthermore, Slinger Speedway is also located less than two miles from the subject property.
Slinger is a part of the Milwaukee Metropolitan Area, which is the 39th largest MSA in the United States. The Milwaukee metropolitan area ranks fifth in the United States in terms of the number of Fortune 500 company headquarters as a share of the population. Milwaukee is the home to the international headquarters of six Fortune 500 companies: Johnson Controls, Northwestern Mutual, Manpower, Rockwell Automation, Harley-Davidson and Jay Global. Known for its brewing traditions, major new additions to the city include the Milwaukee Riverwalk, the Wisconsin Center, Miller Park, an internationally renowned addition to the Milwaukee Art Museum, Milwaukee Repertory Theater, and Pier Wisconsin, as well as major renovations to the UW-Milwaukee Panther Arena. In addition, education and health services are the largest provider of jobs in the Milwaukee Metro.
WI BROKER OF RECORD: Todd Lindblom Lic. # 56163-90