Marcus & Millichap brokered the sale of Delavan Crossings, a 25-suite retail strip property in Delavan, Wisconsin. The property sold for $9.725 million.
Jeff Rowlett, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, Ten Patels Realty, based in New York.
Adrian Mendoza, Sean Sharko and Austin Weisenbeck from the firm’s Chicago Oak Brook office procured the buyer, a private investor who was not part of a 1031 exchange and secured competitive financing from a credit union lender.
Delavan Crossings features 41,898 square feet of retail space across three buildings at 1741, 1807 and 1823 E. Geneva Street. Built in 2003, the 6.15-acre property is just off Interstate 43 and shadow-anchored by Walmart, Kohl’s and Lowe’s. The buildings are almost fully occupied with a mix of restaurant, retail and service tenants including Starbucks, Dominos, Jersey Mikes, AT&T, Verizon and Great Clips.
