Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant, broadcasting facility (the “Property” or “Asset”) fully leased to Allen Media Broadcasting and located at 5727 Tokay Blvd, Madison, WI.
The Property totals 29,438 SF and is fully occupied by Allen Media Broadcasting, a media broadcasting company with 24 stations across 13 states (the “Tenant”), a subsidiary of Allen Media Group. In the Property WKOW27 news, an ABC affiliate, conducts their broadcasts for news in the South-Central Wisconsin area. The lease has 15.5 years remaining with a NNN lease structure, offering investors long-term cash flow, and features four (4), five-year renewal options and attractive annual rent bumps throughout the primary term & renewal options.
Madison, Wisconsin is the vibrant capital city of Wisconsin, situated on an isthmus between Lakes Mendota and Monona. With a population of approximately 280,000, it is the second-largest city in Wisconsin and is the fastest-growing city in the state, with population increasing by 2.7% from 2022 to 2023. Madison is widely recognized for its exceptional quality of life, consistently ranking among the best places to live in the United States. The city is home to the University of Wisconsin-Madison, a world-class research institution that significantly contributes to the area's highly educated workforce and thriving innovation ecosystem.
Attributes
Media
Investment Highlights
- Prime Single-Tenant Broadcasting Facility: 29,438 SF property fully leased to Allen Media Broadcasting, a subsidiary of Allen Media Group with a strong presence across 13 states.
- Long-Term, Secure Cash Flow: NNN lease structure with 15.5 years remaining, providing stable, long-term income for investors.
- Strong Tenant: Property houses WKOW27 news, an ABC affiliate, serving the South-Central Wisconsin area.
- Attractive Lease Terms: Four 5-year renewal options and annual rent escalations throughout the primary term and renewal periods.
- Strategic Location: Situated in Madison, Wisconsin's capital and second-largest city, known for its exceptional quality of life and consistent ranking among the best places to live in the U.S.
- High-Growth Market: Madison is the fastest-growing city in Wisconsin, with a 2.7% population increase from 2022 to 2023.
- Strong Economic Fundamentals: Home to the University of Wisconsin-Madison, contributing to a highly educated workforce and thriving innovation ecosystem.
- Potential for Value Appreciation: Given the property's location in a growing market with strong economic drivers, there's potential for long-term value appreciation.
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