Investment Highlights
- Strong National Branded & Credit Tenants (Over 95% Leased To Credit Tenants)
- Great Retail Corridor- Directly Across From Newly Remodeled Walmart Supercenter
- 37,000 Plus Vehicles Per Day On Capitol Drive
- Over 340,000 Residents Within Five Miles
- Within A Few Miles Of UW-Milwaukee Campus (~30,000 Students) Highly Visible From East Captiol Drive
- Highly Visible From East Capitol Drive
- Loan Must Be Assumed
Major Tenants: Big Lots, Office Depot, Walgreens, Rainbow Fashion, Dollar Tree, Payless Shoes, Time Warner Cable, Pizza Hut
The investment consists of a 105,956 square foot institutional type retail property. The shopping center is currently leased out to tenants like Dollar Tree, Rainbow Fashions, Walgreens, Office Depot, Big Lots, Lee's Beauty, Check N' Go, Classy Nails, Pizza Hut, Time Warner Cable and Payless Shoe Source. Seven of the eleven current tenants have been occupants for over 10 years those include; Pizza Hut since 1989, Classy Nails since 1998, Lee's Beauty since 2001, Walgreens since 1988, Dollar Tree since 2001, Office Depot since 2004 and Check N Go since 1997. All leases are structured as triple-net, tenants are responsible for CAM, taxes, insurance and management / administration charges. Landlord is only responsible for roof and structure.
River West Center is located in the busy retail corridor of E Capitol Drive. As of 2013 the average daily traffic counts on E Capitol Drive are over 37,000. In addition there are over 340,000 residents within 5 miles of the subject property, not including the UW-Milwaukee Campus which has approximately 30,000 students located just East of the center. The center is directly across the street from a newly enlarged and renovated Walmart. Additionally McDonalds recently renovated their existing building to fit their new concept which is located in River West Center's Outlot (not included in deal). The immediate area surrounding the subject property has high quality retail with tenants including Aldi, Walmart, McDonald's, O'Reily Auto Parts, Game Stop, Wendy's, Get It Now, Goodwill, Popeyes, Outpost Natural Foods, Church's Chicken, Piggly Wiggly, Citi Trends, PNC Bank, CW Price and more.
