Mid-America Real Estate Corporation’s investment sales team brokered the final phase of The Shoppes of Nagawaukee retail center in Delafield, Wis., on April 4. This is the third transaction Mid-America has closed on behalf of Plymouth, Minn.-based Told Development in this shopping center since 2012.
The first phase, totaling 137,000 square feet and anchored by Kohl’s, was purchased by Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust for $15.1 million. The second phase, also purchased by Ramco-Gershenson but for $22.7 million, totaled 106,000 square feet and features anchor tenants Marshall’s and Sports Authority.
The final phase totaled more than 57,000 square feet and included tenants such as Best Buy, Famous Footwear, Panera Bread, Noodles & Co., Scottrade and Qdoba. Wauwatosa, Wis.-based Wangard Partners Inc. purchased the property for $13.75 million.
In all, the three phases of the shopping center totaled more than 276,000 square feet of owned GLA and were sold for a total consideration of more than $51 million.
The Shoppes at Nagawaukee is a power center in the Milwaukee MSA.