Shoppers World of Brookfield

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Brookfield (Milwaukee MSA), WI

 

     

Shoppers World of Brookfield is a 202,000 square foot Class A shopping center located in a regional retail node in Brookfield, WI.

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The center is anchored by Ross, Burlington, Xperience Fitness, and Pick & Save. At the time of acquisition, the asset was 79.7% occupied representing a great value-add opportunity in a market with average occupancy over 95%.

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Shoppers World of Brookfield is located in a regional trade corridor along Capitol Dr (45,000 vpd) and N 124th Street (26,000 vpd). Nearby tenants include Target, Hobby Lobby, Petco, Home Depot, Lowes, Aldi, REI and others. Demographics in the area are strong with 74,000 people living in a 3 mile radius earning average incomes of $84,000. Brookfield also is a dominant office market with 50,000 daytime employees in a 3 mile radius.

 

PMAT was able to acquire this institutionally-owned center at below replacement cost (under $100/SF) providing attractive immediate cash-on-cash yield. Within a few months of PMAT's acquisition, the Chick FIl A and First Citizens outparcels were spun off. Leasing of the available 34,000 SF box provides further value-add potential.