Contact: Adam A. Lewis, Vice President/Regional Manager, (303) 328-200
MENOMONEE FALLS – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of The Shops on Appleton, a 19,499-square-foot retail property located in Menomonee Falls, Wis., according to Adam A. Lewis, regional manager of the firm’s Denver office. The asset sold for $6,000,000.
Cory Gross, an investment specialist in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Gross. Regional Manager and Broker of Record, Todd Lindblom, also assisted in closing this transaction.
“The Shops at Appleton is a well-located shopping center, shadow-anchored by a Piggly-Wiggly and approximately 15 minutes from downtown Milwaukee. The seller’s invested significantly into the center by completing capital improvements including a new facade of both buildings and a new roof. At the time of the sale the property was 100% occupied by a quality mix of national, franchisee and local tenants. We received multiple offers and ultimately sold it to a private investment company out of Denver with a growing portfolio of similar neighborhood shopping centers throughout the US,” Gross commented.