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1454 Capitol Drive — Pewaukee, WI

Chick Fil A

Part of the Shops at Meadow Ridge development, Somerstone executed a 15-year ground lease with Chick-Fil-A Inc. for the construction of a new Chick Fil A restaurant on Lot 2 in the development. With excellent visibility along the Capitol Drive corridor in Pewaukee and ample space for the dual-drive thru model, the store is a top performer. The property was successfully sold to a 1031 exchange buyer out of Texas shortly after the restaurant opened.

Property type

Single-tenant NNN ground lease

Site size

2.09 acres

Strategy

Development

Opened

February 2019

Sold

May 2019

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