Time Equities expands its footprint in Wisconsin by acquiring four centers
Original article published on Chain Store Age
New York — Time Equities acquired four Wisconsin multi-tenant retail assets for $18.1 million, spanning 307,668 sq. ft. in total. The acquisitions, consisting of two separate transactions, include The Geneva Commons purchased for $1.3 million, in addition to Oak Creek Centre, Park Plaza and Taylor Heights acquired for $16.8 million.
“Time Equities recognized this opportunity to acquire highly visible and heavily trafficked centers in several Milwaukee suburbs with strong retail fundamentals,” said Ami Ziff, director of national retail with Time Equities. “With average portfolio occupancy of approximately 71%, we are excited about the prospects for leasing and bringing the portfolio to stabilization.”
About centers:
Geneva Commons, located in Lake Geneva, Wisconsin. The center is currently 70% leased by nationally recognized tenants including Mattress Firm, Sally Beauty and Maurices, and shadow-anchored by Target.
Oak Creek Center, located in Oak Creek, Wisconsin. The center is currently 84% leased, anchor by TJ Maxx, in addition to junior anchors Petco and Dollar Tree.
Park Plaza, located Manitowoc, Wisconsin. The center is currently 61% leased and anchored by Hobby Lobby, along with retailers including Family Dollar, Papa Murphy’s and Advance America.
Taylor Heights, located in Sheboygan, Wisconsin. The center is currently 70% leased and anchored by Planet Fitness, additional tenants include Napa Auto Parts and Noodles & Company.
