OAK CREEK, WI – [April 12, 2022] – Blue West Capital has completed the sale of a multi-tenant retail building located at 160 W Town Square Way in Oak Creek, Wisconsin. Carly Kelly (Gallagher) of Blue West Capital represented the buyer in the transaction, a private real estate investment fund based out of the Midwest. The seller was a New York-based investor.
Shoppes at Drexel consists of 10,351 square feet and is 100% leased to nationally recognized tenants, including Potbelly, Five Guys, Mod Pizza, Men’s Hair House, and Crumbl Cookies. The property is located in Oak Creek, which is approximately 12 miles south of the Milwaukee central business district. Oak Creek is a desirable suburb due to its dense population base that is expected to grow over the next five to ten years. There are 142,000 people with average household incomes exceeding $84,000 within five miles of the property. The property features direct frontage to Drexel Avenue, one of the main East-West thoroughfares in Oak Creek and is exposed to over 16,000 vehicles per day. Additionally, there is convenient access to Interstate 41, which features over 104,000 vehicles per day.
“Shoppes at Drexel features a dominant national tenant line up with long-term leases in one of Milwaukee’s growth suburbs. The buyer was driven to the high traffic counts, strong surrounding demographics, and all the new commercial development in the immediate area. All of these factors contribute to this property being a stable and accretive investment property well into the future,” said Carly Kelly.