Madison, Wis. — Whole Foods Market will open a new, 50,000-square-foot store in Madison on Dec. 13. This marks a relocation of the brand’s existing Madison store, which has been open since 1996. The store will anchor the 21-acre Madison Yards mixed-use development, which will also feature additional retail, restaurant and entertainment space surrounding a central green plaza. Products at the store will include more than 800 local items from the Midwest.
Waukesha, Wis. — Bernard Financial Group (BFG) has secured a $10.1 million CMBS loan for the acquisition of a 112,010-square-foot retail center in Waukesha, a western suburb of Milwaukee. Dennis Bernard and Joshua Bernard of BFG arranged the loan. The borrower was an entity doing business as Meadowbrook Marketplace Associates LLC.
Milwaukee — Marcus & Millichap has arranged the $3.1 million sale of a 12,900-square-foot retail property in Milwaukee. CVS/pharmacy occupies the building, which was constructed in 2007, on a net-lease basis. Jeff Rowlett of Marcus & Millichap’s The Rowlett Group represented the seller, a local investor group. The Rowlett Group also procured the buyer, a Delaware-based REIT.
Waukesha, Wis. — Marcus & Millichap has brokered the $14.9 million sale of a 112,010-square-foot shopping center in Waukesha, a western suburb of Milwaukee. Sendek’s Grocery Store anchors the property. Other tenants include Walgreens, McDonald’s and Cost Cutters. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an undisclosed limited liability company. The team also procured and represented the buyer, a Michigan-based limited liability company.
Kohler, Wis. — Mid-America Real Estate Corp. has arranged the sale of Deertrace Kohler, a 171,366-square-foot shopping center in Kohler, a northern suburb of Milwaukee. Tenants at the center, which is managed by Pine Tree, include T.J. Maxx, HomeGoods, Sierra Trading Post, Dollar Tree, Spectrum, Bath & Body Works, U.S. Cellular, Mattress Firm and JoAnn. Rick Drogosz and Dan Rosenfeld of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Chase Properties acquired the property for an undisclosed price.
Milwaukee, Wis. — Legacy Realty Group Advisors has arranged the sale of Packard Plaza, a 125,250-square-foot shopping center in Milwaukee. Tenants at the property include Dollar Tree, Family Dollar, JOANN, AutoZone and The Salvation Army. Jacob Baruch, Ari Warshaw and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction.
Onalaska, Wis. — Construction is underway on the redevelopment of a retail building formerly occupied by Shopko within East Towne Plaza in Onalaska. CORTA Development acquired the building last year and began construction in January. Completion of the redevelopment, which will include the addition of space for tenants Ulta Beauty and Five Below, is scheduled for completion before the end of the year. Mid-America Real Estate represented CORTA in the acquisition of the property.
Philadelphia — Five Below is set to open stores at seven Simon-owned properties. Scheduled to open this year, the stores will include locations at Albertville Premium Outlets in Albertville, Minnesota; Pleasant Prairie Premium Outlets in Prairie, Wisconsin; Johnson Creek Premium Outlets in Johnson Creek, Wisconsin; Gaffney Outlet Marketplace in Gaffney, South Carolina; Indiana Premium Outlets in Edinburgh, Indiana; Pismo Beach Premium Outlets in Pismo Beach, California; and Pocono Premium Outlets in Tannersville, Pennsylvania. “Our relationship with Simon is core to continuing our national expansion efforts,” says George Hill, chief retail …
Bellwether Enterprise Arranges $6.2 Million Acquisition Loan for Retail Center in Suburban Milwaukee
Brookfield, Wis. — Bellwether Enterprise Real Estate Capital (BWE) has arranged a $6.2 million loan for the acquisition of Shoppes of Brookfield Commons, a retail center located in the Milwaukee suburb of Brookfield. The two-building property totals 42,356 square feet. At the time of loan closing, the center was 54 percent leased. Ryan Morris of BWE arranged the loan on behalf of the borrower, CapRock Real Estate. Ameritas Investment Partners provided the three-year loan, which features a fixed interest rate along with $1 million of future funding for capital improvements …
Iowa, Montana, North Dakota, Nebraska and Wisconsin — Marcus & Millichap has brokered the sale of a 22-property portfolio occupied by Arby’s in the Midwest for $35.1 million. The net-leased assets are located in Iowa, Montana, North Dakota, Nebraska and Wisconsin. Drew Isaac and Brian Bailey of Marcus & Millichap represented the seller, an Arby’s franchisee. As part of the sale, new leases were executed for the properties. The buyer was undisclosed.