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.
West Allis, Wis. — Colliers has brokered the $4.3 million sale of a 14,079-square-foot retail center in West Allis, about 6 miles from Milwaukee. The recently built property sits at the corner of South 108th Street and West Oklahoma Avenue. Some of the tenants at the fully leased center include HuHot, Tropical Smoothie Café, Elements Massage and AT&T. Adam Connor, Josh Minkin and Heather Dorfler of Colliers represented the seller, a Milwaukee-based private developer, in the transaction. The private buyer is also based in Wisconsin.
Menomonee Falls, Wis. — Kohl’s Corp. has announced plans to open 100 smaller-format stores over the next four years. The company also aims to grow its Sephora business to more than $2 billion in annual sales through the opening of 850 new locations. The Menomonee Falls, Wisconsin-based retailer will launch self-serve, buy online and in-store pick up options at all locations; enhance Kohl’s Card Rewards earnings to 7.5 percent every day; introduce a co-branded credit card in 2023; and grow its online digital sales to $8 billion by enhancing discovery …
Wisconsin Dells, Wis. — Quantum Real Estate Advisors Inc. has brokered the $4.4 million sale of an 11,982-square-foot retail strip center in the Wisconsin Dells, a city in central Wisconsin. Starbucks Coffee and Applebee’s anchor the property, which is located at 320 State Highway 13. Zack Hilgendorf of Quantum represented the seller, a Midwest-based investor. A California-based buyer purchased the property.
