Saturday, May 21, 2022

Milwaukee-area grocery-anchored retail center sells for $15 million

 

Amy Sands

CHICAGO, IL JLL Capital Markets has closed the $15.15 million sale of Whitnall Square, a 133,421-square-foot shopping center anchored by Pick ‘N Save in the Milwaukee-area community of Saint Francis, Wisconsin.


Clinton Mitchell
JLL represented the seller, Newport Capital Partners, and procured the buyer, Savitar Realty Advisors. 

 

The JLL Retail Capital Markets Investment Sales Advisory team representing the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder, along with Senior Managing Director Jaime Fink.

 

Constructed between 1989 and 1991, Whitnall Square is anchored by a high-performing Pick ‘N Save, the largest supermarket chain in Wisconsin, which recently demonstrated its commitment to the property by extending its lease through 2034.


Michael Nieder

The 96-percent-leased center is also home to Petco, Plant Fitness, Harbor Freight Tools, Metro PCS, Dollar Tree, Subway, H&R Block, Bangkok House Restaurant, Hariport, Papa Murphy’s Pizza and P.T. Nails.

 

 Additionally, the 14.17-acre site has room for a future outparcel development. 

 

Whitnall Square is at 4698 S. Whitnall Ave. in Saint Francis, which is seven miles southeast of downtown Milwaukee and proximate to Interstate 794, facilitating easy access to the center.

 

The center pulls from a dense, infill trade area with a population of 211,000 and an average annual household income of $65,000 within a five-mile radius.

 

Jaime Fink

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources on JLL, please visit our newsroom.

 


CONTACT:

 

Kimberly Steele

PR, Capital Markets,

Agency Leasing

 and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

 

No comments:

Post a Comment