New Holstein, Wis. — The Boulder Group has arranged the $2.3 million sale of a single-tenant property net leased to grocer Piggly Wiggly in New Holstein, about 40 miles south of Green Bay. The 29,651-square-foot building is located at 2243 Calumet Drive. There are more than eight years remaining on Piggly Wiggly’s lease. Randy Blankstein and John Feeney of Boulder represented the seller, a Wisconsin-based partnership. A Midwest-based individual purchased the asset while completing a 1031 tax-deferred exchange.
Wisconsin
Delafield, Wis. — An affiliate of Next Realty LLC has acquired Hillside Terrace Shopping Center in Delafield, about 25 miles west of Milwaukee. The purchase price was not disclosed. The 17,000-square-foot retail center is located on Hillside Drive. The property is fully leased to tenants such as Jimmy John’s, Pizza Hut, Stone Creek Coffee and Chris & Co. Salon. This is the seventh acquisition for Next Realty Fund IX LP.
Cypress Equities Acquires 1.2 Million-Square-Foot Bayshore Town Center Near Milwaukee, Plans Repositioning
Glendale, Wis. — Cypress Equities has acquired the 1.2 million-square-foot Bayshore Town Center in Glendale near Milwaukee. The purchase price was not disclosed. Cypress plans to reposition the property into an entertainment, shopping, dining and mixed-use project. Once complete, the re-envisioned center will include new architecture, landscaping and art by local creatives. Plans call for more retailers, restaurants, a select-service hotel, 300 new residential units, Class A office space and coworking space. The park area will be upgraded and include programmed, year-round entertainment. The project will be completed in phases …
Quantum Brokers Sale of 26,000-Square-Foot Retail Center in Pleasant Prairie, Wisconsin
Pleasant Prairie, Wis. — Quantum Real Estate Advisors Inc. has brokered the sale of a roughly 26,000-square-foot retail center in Pleasant Prairie for an undisclosed price. Built in 2007, the property is located at 9740-9800 76th St. The center was fully leased at the time of sale to tenants such as Starbucks, Panda Express, Aspen Dental and AT&T. Chad Firsel of Quantum represented the seller, a Chicago-based private investor. Daniel Waszak of Quantum represented the buyer, a Miami-based investor.
Mid-America Brokers Sale of 54,216-Square-Foot Shopping Center in Madison, Wisconsin
Madison, Wis. — Mid-America Real Estate Corp. has brokered the sale of Oakbridge Retail Center in Madison for an undisclosed price. The 54,216-square-foot shopping center is fully leased to tenants such as Salons Etc., Heid Music, Rocky Rococo, Brothers Main and iCare. Carly Gallagher and Dan Rosenfeld of Mid-America represented the seller, a Madison-based investment group. Baltimore-based AGM Commercial Real Estate Advisors purchased the asset.
West Allis, Wis. — Mid-America Real Estate Corp. has brokered the sale of West Allis Center in Wisconsin for $18.1 million. The 259,962-square-foot shopping center, built in 1964, is located along the 108th Street retail corridor, four miles southwest of downtown Milwaukee. Tenants include Pick ’n Save, Kohl’s, Marshalls, HomeGoods, BMO Harris Bank and Walgreens. Ben Wineman and Dan Rosenfeld of Mid-America represented the seller, Ohio-based Retail Value Inc. Tennessee-based GBT Realty Corp. purchased the asset.
Plymouth, Wis. — SRS Real Estate Partners has arranged the $5 million sale of a single-tenant property occupied by Walgreens in Plymouth, near Sheboygan. The 14,490-square-foot freestanding building is located at 2455 Eastern Ave. Built in 2004, the property is situated on 1.5 acres. Walgreens has 11 years remaining on its lease term. Dan Elliot and Sean Lutz of SRS represented the seller, Torrington Development Inc. MEI Realty purchased the building.
Cushman & Wakefield | Boerke Arranges Sales of Former Toys ‘R’ Us Buildings in Wisconsin
Milwaukee and Madison, Wis. — Cushman & Wakefield | Boerke has arranged the sale of a building formerly occupied by Babies ‘R’ Us in Madison and a building formerly occupied by Toys ‘R’ Us in Milwaukee. The 45,451-square-foot Babies ‘R’ Us sold for $3.2 million. The 38,000-square-foot Toys ‘R’ Us sold for $2.6 million. John Kuhn, Nathan Powers and David Tighe of Cushman & Wakefield | Boerke represented the sellers.
KW Commercial Negotiates $3.5 Million Sale of 44,911-Square-Foot Retail Center in Plover, Wisconsin
Plover, Wis. — KW Commercial has negotiated the $3.5 million sale of Village Park at Plover, a 44,911-square-foot retail center in Plover, near Stevens Point in the center of the state. The property, located at 3012 Village Park Drive, is home to a variety of retail, restaurant and office tenants. Matthew Klein of KW represented the buyer, Amsden LLC. Jeff Rowlett of Marcus & Millichap represented the undisclosed seller.
Quantum Arranges $2.8 Million Sale of Popeyes-Occupied Property in Fitchburg, Wisconsin
Fitchburg, Wis. — Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of a Popeyes-occupied property in Fitchburg, Wisconsin, just south of Madison. The 4,442-square-foot building is located at 2844 Fish Hatchery Road. Popeyes has approximately 20 years left on its lease. Chad Firsel and Zack Hilgendorf of Quantum negotiated the transaction. A private buyer based in Seattle purchased the property from a Chicago-based developer.