Milwaukee — Mid-America Real Estate Corporation’s investment sales team has brokered the final sales phase of The Shoppes of Nagawaukee in Delafield, Wis. This was the third transaction consummated on behalf of the seller, Told Development, for this shopping center since 2012.
Ramco-Gershenson Properties Trust purchased the first phase, which is anchored by Kohl’s and encompasses 137,000 sq. ft., for $15.1 million. Ramco-Gershenson also purchased the second phase for $22.7 million. It spans 106,000 sq. ft. and features anchor tenants Marshall’s and Sports Authority.
The third and final phase totals over 57,000 sq. ft. and includes Best Buy, Famous Footwear, Panera Bread, Noodles & Co., Scottrade and Qdoba. Wangard Partners Inc. purchased the third phase for $13.75 million.
In all, the three phases of the shopping center totaled over 276,000 sq. ft. and sold for more than $51 million.