Grafton Commons Announces the Signing of TJ Maxx & Five Below
MILWAUKEE--(BUSINESS WIRE)--Nov 6, 2019--
Berengaria, a portfolio company of Marcus Investments, announced that it has signed both TJ Maxx and Five Below to ten-year leases at the firm’s Grafton Commons retail development in Grafton, WI. The signing of these high credit quality retailers will put the shopping center at 100% occupancy. TJ Maxx and Five Below will occupy what used to be the Best Buy store, along with a 2,500 square foot addition, to occupy approximately 32,500 square feet in total.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191106005711/en/
Arial View of Grafton Commons Shopping Center, Grafton, WI (Photo: Business Wire)
Grafton Commons is the premier regional retail power center on Milwaukee’s north shore drawing not only from nearby suburbs and south to the city of Milwaukee, but also much of Ozaukee County north to Sheboygan given that the center is shadow anchored by a high performing Costco store. Additional tenants include Kohl’s, Michaels, PetSmart, Aldi and Dick’s Sporting Goods.
Jay Peirick, President of Berengaria, said, “We are so excited to be welcoming what we consider to be two premier national retailers to our development in Grafton. Not only will these retailers add increased traffic, but it is our feeling that they will attract additional shoppers to Grafton who may have shopped at other developments throughout the Milwaukee area.“
Christopher Nolte, President & CIO of Marcus Investments, said, “What we may be most proud of is the continuation of a successful retail development mix that continues to flourish and serve a large population area in both Milwaukee and Ozaukee counties. By stabilizing this asset, we anticipate continued success for the next decade and beyond.”
Marcus Investments plans to recapitalize Grafton Commons by year end. Real estate information regarding Marcus Investments can be viewed on the firm’s website, www.marcusinvestments.com.
Berengaria, the real estate business of Marcus Investments, has developed and/or managed more than $500 million of retail developments nationwide since its inception in 2008. The company’s scalable team of real estate and retail business experts is seeking to accelerate its growth through its proactive, thoughtful and proven approach, with a focus on acquiring retail life-style centers and senior living facilities. Prospective opportunities should be sent to the attention of Bob DelGhingaro, Vice President of Operations, at firstname.lastname@example.org.
Marcus Investments is a Midwest-based investment firm formed by the Marcus family of Milwaukee to build and grow the next generation of great companies in Wisconsin. The company focuses on long-term value creation and looks to attract like-minded institutions and individuals.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191106005711/en/
CONTACT: Tim Anderson, Managing Director
KEYWORD: WISCONSIN UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RETAIL FINANCE HOME GOODS COMMERCIAL BUILDING & REAL ESTATE PROFESSIONAL SERVICES CONSTRUCTION & PROPERTY DISCOUNT/VARIETY CONVENIENCE STORE DEPARTMENT STORES OTHER RETAIL SUPERMARKET URBAN PLANNING REIT FASHION
SOURCE: Marcus Investments, LLC
Copyright Business Wire 2019.
PUB: 11/06/2019 11:01 AM/DISC: 11/06/2019 11:01 AM