Investment Highlights
- Anchored by Concentra Health Care
- Great Retail Location Located in New Berlin's Main Retail Corridor
- Heavy Traffic on S Moorland Road 29,800+
- Over 67% Of Current Tenants Are Original To The Center
- Shadow Anchored by Pick 'n Save
- Under Market Rents - Potential Future Upside
The Investment consists of a 100% occupied 14,554 SF retail center. The shopping center is anchored by Concentra Urgent Care who recently extended for another five years. Over 67% of the center is currently leased to the same tenants since its construction in 1996. All but two leases are structured as triple-net including management reimbursement. The other two are structured as gross which could provide future upside with re-structuring their leases.
The property is located just off the busy street of S Moorland Road which has 29,800+ vehicles per day.
The immediate area surrounding the subject property has high quality retail, with tenants including Pick 'n Save, Papa Murphy's, Starbucks, Subway, Qdoba, Noodles & Company, Mobil, Walgreens, Walmart Neighborhood Market and much more. In addition to retail the surrounding area consists of a North Shore Bank, Chase Bank, and Associated Bank.
At 50 years old, New Berlin is younger than many Milwaukee, Wisconsin, suburbs. But it has the cohesiveness of a place that’s much older. With a population of approximately 39,000 people, the city is tight-knit; residents join together for holiday parades and youth sporting events. The city's highly organized Parks & Recreation Department is one of the hallmarks of our town. Within five miles of the subject site has over 138,000 residents
