Pick ‘n Save grocery retail property
Retail in Mount Pleasant, Wisconsin — sponsored by Inland Private Capital
Files with the SEC as Mt. Pleasant Retail Venture DST
Minimum investment
$25k
Offering size
$11.1M
How much has sold
100.0%
Asset type
Retail
Location
Mount Pleasant, Wisconsin
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Mt. Pleasant Retail Venture DST is a Delaware statutory trust — a passive co-ownership vehicle that qualifies for 1031 exchange money — sponsored by Inland Private Capital and holding three contiguous retail parcels in Mount Pleasant, Wisconsin, anchored by a Roundy's/Pick 'n Save grocery store.1 It is closed to new investors, and Inland announced the sale of the grocery parcel on October 20, 2020.2
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The August 23, 2012 private placement memorandum (the offering's disclosure document) describes three contiguous parcels totaling 9.669 acres with three single-story freestanding retail buildings of roughly 89,997 square feet, all built in 2011.1 One parcel held the Pick 'n Save grocery store, one a multi-tenant outlot building, and one a ground-leased restaurant pad.1 Inland reported selling the grocery parcel in October 2020; the other two parcels were not part of that sale.3
- Property address
- 2820 South Green Bay Road, Mount Pleasant, Wisconsin
- Property size
- 70,433 square feet
Who is the tenant, and what's the lease?
At offering, the grocery building was leased to Roundy's Supermarkets, Inc. operating as Pick 'n Save, the pad was ground-leased to Texas Roadhouse, and the outlot building ran through an Inland-affiliated master tenant that subleased to four retailers.1 By the 2020 sale, REJournals reported the store operated under Kroger.3
How did it end?
Partially sold after 8.8 years; sponsor reported 1.84x
Inland Private Capital Corporation announced the sale of the trust's 70,433-sf grocery-anchored Pick 'n Save property at 2820 South Green Bay Road, Mt. Pleasant, Wisconsin for $17.84 million on October 14, 2020, an approximately 11 percent premium over original investor capital; no equity multiple, IRR, or total return percentage was stated [10][11][12].
The offering comprised three contiguous parcels with three single-story freestanding retail buildings, including a Roundy's/Pick 'n Save grocery anchor, Texas Roadhouse, and outlot tenants; the offering memorandum states approximately 89,997 square feet of building area on 9.669 acres.
70,433 square feet1.84×Equity multiple · as reported by the sponsor
11.0%Total return · as reported by the sponsor
9.2%Annualized return · as reported by the sponsor
$17,840,000Sale price · as reported by the sponsor
Supporting evidence
How is it financed, and what does it pay?
This was a leveraged Trust: the offering memorandum describes a JPMorgan Chase Bank, N.A. mortgage that is non-recourse to the Trust subject to customary carve-outs, meaning the lender generally looks to the property rather than to investors personally.1
Who's behind it?
Inland Private Capital, whose Form D lists an Oak Brook, Illinois address, sponsors 1031 exchange programs structured as Delaware statutory trusts; the same filing names Retail Venture, L.L.C. as the Trust's promoter.4 On October 20, 2020, Inland announced it had sold the Mount Pleasant grocery property for $17.84 million, which it described as roughly an 11% premium over investors' acquisition price.2 REJournals reported the sale returned about 67% of investors' original capital.3
- Sponsor
- Inland Private Capital
- Legal Trust name
- Mt. Pleasant Retail Venture DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 79 total offerings from Inland Private Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust was sold privately to accredited investors — buyers meeting SEC income or net-worth tests — without general advertising, and its Form D was amended repeatedly as subscriptions came in.4 The final amendment also carries an unexplained $25,000 offering-data entry alongside the trust-interest figures, which the filing does not reconcile.5
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 11
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to Pick ‘n Save grocery retail property?
Top1031 lists Pick ‘n Save grocery retail property as historical. It is no longer raising money.
Where does Top1031 get the data for Pick ‘n Save grocery retail property?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in this Trust?
No. Mt. Pleasant Retail Venture DST is Historical — closed to new investors. Its last Form D amendment was filed May 22, 2013, and the grocery property was sold in October 2020, so there is no live offering to subscribe to.
What happened to the property?
Inland Private Capital announced on October 20, 2020 that it had sold the Mount Pleasant grocery retail property for $17.84 million. The Milwaukee Business Journal reported the buyer was an affiliate of Agree Realty Corp. REJournals reported the other two parcels, occupied by six tenants, were not part of that sale.
What did investors receive?
Inland's October 20, 2020 announcement described the sale price as approximately an 11% premium over investors' acquisition price, and REJournals reported the sale returned about 67% of investors' original capital — a difference explained in part by the mortgage debt repaid at sale. Total investor outcome across the full hold, including distributions, was not published in the sources reviewed.
What is a DST, and why does the grocery lease matter?
A Delaware statutory trust holds real estate and issues beneficial interests that the IRS treats as replacement property for a 1031 exchange, so investors are passive — no management, no voting on operations. Here the value rested largely on one long-term grocery lease: the offering memorandum states the Roundy's/Pick 'n Save lease commenced September 13, 2011 and ran to December 31, 2031.
Was the Trust financed with debt?
Yes. The August 23, 2012 offering memorandum describes a JPMorgan Chase Bank, N.A. mortgage on the property, non-recourse to the Trust subject to carve-outs. Investors should read the loan section of the PPM for the actual principal, rate, maturity and any prepayment or defeasance terms.
Do public records show the Trust's current status?
No. The reviewed public sources document the 2020 sale of the grocery parcel but do not establish whether the Trust still owns the other two parcels, has wound up, or has made a final distribution. No outcome beyond the 2020 sale is reported.
Chapter 9Inland Private Capital Corporation Closes Sale of a 70,000-Square-Foot Retail Property in WisconsinREJournals reported that Inland sold the 70,433-square-foot property at 2820 South Green Bay Road for $17.84 million on behalf of Mt. Pleasant Retail Venture DST. Inland Private Capital Corporation Provides Liquidity, Maximizes Value of Grocery-Anchored Shopping Center in Latest DST TransactionBlue Vault covered Inland's sale of the grocery-anchored Mt. Pleasant retail property in a DST transaction.