Baceline Investments, LLC acquired Meadowood Retail Center, a 45,319-square-foot neighborhood shopping center in Madison, Wisconsin. Baceline purchased the property from an affiliate of MLG Capital for $3.25 million.
Located at 5759 Raymond Road, Meadowood becomes Baceline’s third property located in Wisconsin but first in the greater Madison market. Baceline also owns Glendale Square and Point Plaza, both in greater Milwaukee. As a shopping center providing everyday goods and services to the surrounding community, Meadowood is currently 90 percent leased including long-standing community-focused tenants Old National Bank, Madison Community Center and the Madison Library.
“Meadowood is in a great community that aligns very well with our income-driven strategy of real estate investment,” said David Puchi, Baceline’s Managing Partner. “Our focus is to seek out and identify internet-resistant, neighborhood shopping centers that will expand our portfolio and produce reliable income and present a significant opportunity for growth.”
Baceline’s targeted income strategy focuses on holdings in the country’s midsection and is designed to benefit investors who seek to earn consistent and higher levels of distributable income from their portfolio. Baceline’s core income fund now consists of 14 properties with a total value of approximately $100 million.