Plaza 173 shopping center, Brookfield, WI
CHICAGO, IL and BROOKFIELD, WI (June 3, 2013)— A joint real
estate fund formed by commercial mortgage lending specialists Innovative
Capital Advisors (ICA) and Chicago-based HSA Commercial Real Estate, a
full-service real estate firm, recently purchased the 92,000-square-foot Plaza
173 shopping center located at the northwest corner of Bluemound Road and
Calhoun Road in Brookfield, Wis.
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| Timothy C. Blum |
The power center, which was sold in a highly-competitive
auction, is partially occupied by Dunham’s Sports, Men’s Wearhouse, Famous
Footwear, and Kessler Jewelers.
Plaza 173 features strong visibility from Bluemound Road,
which carries 42,900 vehicles by the center each day and is the primary retail
thoroughfare in Brookfield with a critical mass of national retailers including
Roundy’s Metro Market, Bed Bath and Beyond, Buy Buy Baby, Babies R’ Us, and
Sports Authority. Plaza 173 is also situated one mile west of the
1.1-million-square-foot Brookfield Square Mall anchored by Boston Store, JC
Penney, and Sears.
“Plaza 173 has been under-utilized for years, but our team
is in the process of creating an exciting redevelopment and leasing strategy
that will allow us to capitalize on the tremendous location and market
co-tenancy that this property has to offer,” said Tim Blum, executive
vice president with HSA Commercial.
 |
| 4201 Lien Road, Madison, WI |
The acquisition of Plaza 173 is the second in the state of
Wisconsin for the ICA / HSA partnership within the past year. In 2012, the
joint equity fund purchased a 210,000-square-foot industrial building at 4201
Lien Road in Madison, Wis. near East Towne Mall that is fully-leased by
Therma-Stor LLC, a manufacturer of dehumidifiers.
For a complete copy
of the company’s news release, please contact:
Mark Thomton, mthomton@taylorjohnson.com,
(312)-267-4523
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