Marcus & Millichap closed the sale of Cornerstone Mall, a 18,733-square-foot retail property in Middleton, Wisconsin The asset sold for $3.14 million.
Austin Weisenbeck, senior vice president; Sean R. Sharko, senior vice president; and Marc Sitzer, associate, and investment specialists in Marcus & Millichap’s Chicago Oak Brook and Miami offices, had the exclusive listing to market the property on behalf of the seller, a Madison-based limited liability company. The buyer was represented through a cooperating brokerage firm. Todd Lindblom, Wisconsin Broker of Record, assisted in closing this transaction.
Cornerstone Mall is located at 2831 Parmenter St. in Middleton. The mall is 92 percent occupied by longstanding, net-leased tenants, with an additional 1,500 square feet of unleased space available. Less than a mile from Highway 12 and Highway 14, the property is within minutes of new and proposed construction developments, representative of the 6 percent anticipated growth in the area over the next five years.
