Ten-X与中美洲房地产公司合作出售Westdale Plaza。该地产是建立于1988年的173,529平方英尺的社区中心,占地17.6英亩,由Pierce's Marketplace,建于1924年3月由家族经营的杂货店,全部位于威斯康辛州(2013年销售/成本:$ 331 PSF / 2.22%; 2014:$ 330 PSF / 2.23%; 2015:$ 327 PSF / 2.25%; 2016:$ 331 PSF / 2.22%)。最大的空缺是前西尔斯(Sears)86,479 平方英尺的地块(2011年10月31日到期,目前空出)。Prop.最初是作为一家K-Mart,Roundy杂货店锚定的项目开发中心。位于威斯康星西部Baraboo商业高速公路12号&州际路136号(林恩街)的交汇处。距离魔鬼湖州立公园2英里,距离威斯康星峡谷南部5英里,年访客量为1.2MM。6.51:1,000停车比。该物业将于9月25日星期一至9月27日星期三进行拍卖。竞标起始价是显示的900,000美元。欲注册和了解更多信息,请登录Ten-X.com。
For property tour info please contact the brokers below:
Richard Drogosz at 630-954-7339 or rdrogosz@midamericagrp.com, or Dan E. Rosenfeld at
414-273-4600 or drosenfeld@midamericagrp.com
THE OFFERING
Ten-X in conjunction with Mid- America Real Estate Corporation present for sale Westdayl Plaza. The subject is a 173,529 sf community center built in 1988 on a 17.6-acre parcel, anchored by Pierce's Marketplace, a family-owned grocery store founded in 1924 w/ 3 locations, all in WI (2013 sales/occ cost: $331 PSF/2.22%; 2014: $330 PSF/2.23%; 2015: $327 PSF/ 2.25%; 2016: $331 PSF/ 2.22%). Largest vacancy is an 86,479 sf former Sears (10/31/13 exp, vacated 2011). Prop. was originally developed as a K-Mart, Roundy's grocery-anchored center. Located at the intersection of Business Hwy 12 & State Rd 136 (Linn Street) in West Baraboo, WI. 2 mi north of Devil's Lake State Park w/ 1.2MM annual visitors & 5 mi south of Wisconsin Dells w/ 5MM annual visitors. 6.51:1,000 sf parking ratio.
INVESTMENT HIGHLIGHTS
STRONG GROCERY ANCHOR
Westdayl Plaza is anchored by a 47,385 square-foot Festival Foods, a family- and employee owned grocer that provides strong drawing power to the center. The retailer recently assumed the lease at the center and extended its term through June 2029.
VALUE-ADD
With an occupancy level of 27%, Westdayl Plaza offers a substantial value-add opportunity for the purchaser to significantly increase the income stream through the lease up of the currently vacant space. The property will sell at a significant discount to replacement cost.
GOOD ACCESSIBILITY & VISIBILITY
Located at the southwest corner of Wisconsin Highway 136 (12,800VPD) and U.S.Highway 12 (18,700VPD), Westdayl Plaza benefits from convenient access for local and regional customers. U.S. Highway 12 is a major east-west thoroughfare that runs across the western to southeastern portions of Wisconsin, connecting northwestern Wisconsin to Madison and providing local access to nearby communities. Recently, over 11 miles of U.S. Highway 12, adjacent to the Subject Offering, were constructed to accommodate four lanes of traffic thus improving safety and allowing for higher traffic volumes. The project was estimated to cost in excess of $200 million and will wrap up in fall of 2017.
STRONG DEMOGRAPHIC PROFILE
The surrounding area features a solid local profile with significant growth projected in the near future. This property will be auctioned on Monday, September 25 - Wednesday, September 27 . The price displayed is the starting bid amount of $800,000. For information and to register to bid on this property, please visit Ten-X.com.