Glendale, Wis. — ACX Cinemas is set to open at BAYSHORE, a shopping center located in the Milwaukee suburb of Glendale, during summer 2023. The 42,951-square-foot location will include six theaters, gaming, bowling and a Backlot Pizza + Kitchen. Paul Bryant and Westin Kane of Mid-America Real Estate represented ACX in the transaction. Project partners include Cypress Equities, Hunzinger Construction Company and 5G Studio Collaborative.
Hartford, Wis. — Blue West Capital has negotiated the $2.9 million sale of Hartford Shops in Hartford, about 37 miles northwest of downtown Milwaukee. The 12,530-square-foot retail center is fully leased and is shadow anchored by Aldi. Tenants at the time of sale included Dunkin’, H&R Block, Shopko Optical and Papa Murphy’s. Carly Kelly and Shawn Dickmann of Blue West Capital represented the seller, a Dallas-based private real estate company. The duo also procured the buyer, a Colorado-based private investor.
Appleton, Wis. — Colliers Wisconsin has brokered the $12.9 million sale of a 70,414-square-foot shopping center in Appleton. The fully leased property is situated adjacent to Fox River Mall near Highway 41. Tenants at the time of sale included JOANN Fabric and Craft, Dollar Tree, Kirkland’s and Chili’s Grill & Bar. Adam Connor, Mark Pucci and Heather Dorfler of Colliers represented the seller, an Appleton-based investor group. Prairie Hill Holdings, a Chicago-based private real estate investment firm, was the buyer.
Milwaukee — The Boulder Group has brokered the sale of a 120,000-square-foot property occupied by grocer Pick ’n Save in Milwaukee. Jimmy Goodman and John Feeney of Boulder represented the seller, a Milwaukee-based real estate investor, and the buyer, a national private real estate company. There are more than eight years remaining on the Pick ’n Save lease.
Menomonee, Wis. — Kohl’s (NYSE: KSS) has announced plans to increase its investment in brick-and-mortar with the addition of 100 new, smaller-format locations over the next four years in previously untapped markets. This expansion follows the pilot of 20 stores featuring the company’s smaller-format design, which averages around 35,000 square feet versus the traditional 80,000-square-foot iteration. In June, the Menomonee-based company will be opening a smaller-format shop in Bonney Lake, Washington, and in the fall, stores are set to open in San Angelo, Texas; Morgantown, West Virginia; Tacoma, Washington; and Lenox, …
Oak Creek, Wis. — Stan Johnson Co. has facilitated the $5.9 million sale of The Shoppes at Drexel, a 10,351-square-foot retail strip center located at 160 West Town Square Way in Oak Creek. The property was fully leased at the time of sale to five tenants including Mod Pizza, Men’s Hair House, Five Guys, Crumbl Cookies and Potbelly. Ronnie Givargis of Stan Johnson represented the seller, a New York-based individual investor, in the disposition of the property to an investment group based in Cedar Rapids, Iowa. Both parties were involved in …
Los Angeles — Tauro Capital Advisors has secured the $149.7 million refinancing of a 24-property Walgreens portfolio primarily located across Tennessee, Wisconsin and Alabama. Matt Bucaro of the Los Angeles-based firm secured the one-year floating bridge loan through Benefit Street Partners on behalf of the borrower, IBF Properties LLC. The portfolio spans 314,852 square feet and was purchased by IBF in 2021. The company is currently acquiring retail assets occupied by investment-grade tenants with plans to create a REIT.
Germantown, Wis. — Marcus & Millichap has negotiated the $3.8 million sale of a 10,782-square-foot property occupied by KinderCare in Germantown, a northern suburb of Milwaukee. Under corporate guarantor KinderCare Education, the childcare provider has just under 11 years remaining on its net lease. Dominic Sulo of Marcus & Millichap represented the seller, a Michigan-based limited liability company, while Sean Delaney and Jeffrey Herrmann of Marcus & Millichap represented the buyer, a California-based limited liability company. Dean Giannakopoulos and Frank Montalto of Marcus & Millichap Capital Corp. originated acquisition financing.
Madison, Wis. — An affiliate of Next Realty LLC has acquired Essex Square, a 44,000-square-foot retail center in Madison. The property was home to 15 tenants at the time of sale, including Concentra Health Services, Half Price Books, The Camera Store, Allstate, Great Clips and MOKA Coffee. Built in 1987 and located along East Towne Boulevard, Essex Square is situated adjacent to the 790,000-square-foot East Towne Mall. Landmark Credit Union provided acquisition financing.
Madison, Wis. — Marcus & Millichap has arranged the sale of Sauk Point Square in Madison for $5 million. The 26,350-square-foot retail center is located at 701 N. High Point Road. Marcus & Millichap’s Rowlett Group represented the seller, a group of local investors, as well as the buyer, an out-of-state limited liability company.