RPT Realty Sells 2 WI Shopping Centers for $69M
- Mar 15, 2019
RPT Realty has sold The Shoppes at Fox River in Waukesha, Wis., and East Town Plaza in Madison, Wis., for a combined $68.5 million. Mid-America Real Estate Corp. brokered the sale of The Shoppes at Fox River. Both properties were purchased by private investors. Proceeds from both sales will go towards funding the firm’s value creation initiatives and reducing leverage.
Located at 1180 W. Sunset Drive, The Shoppes at Fox River comprises 483,409 square feet. The open-air retail center is anchored by grocer Pick ‘N Save, Ross Dress for Less, Old Navy, Ulta, Five Below, Hobby Lobby, TJ Maxx, Petco, Dollar Tree and Target. The property was built in 2009 by The Opus Group and expanded in 2012, 2014 and 2016. Situated at 2119 Zeier Road, East Town Plaza comprises 341,467 square feet. The asset is anchored by Burlington, Marshalls, DSW, Ulta, Kirkland’s Home, Party City and more.
Mid-America Real Estate Corp.’s Investment Sales team included Principal Ben Wineman and Mid-America Real Estate Wisconsin LLC Principal Dan Rosenfeld, representing the seller. Mid-America Real Estate – Michigan Inc.’s Principal Cynthia Kratchman represented the buyer.
The firm remains active in the Midwest market, having brokered several retail sales over the past year. Last June, Mid-America Real Estate Corp. represented the seller in its disposition of Montrose Commons, a 31,325-square-foot retail property in Chicago.
Image courtesy of Mid-America Real Estate Corp.