Greenfield, WI - Southfield Center

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in Southfield Center, a 100% occupied, e-commerce resistant, food and services-based investment property located in Greenfield, WI (Milwaukee MSA). Southfield Center features a strong, diversified tenant line up of Five Guys, Naf Naf Grill, Banfield Pet Hospital, and Stanton Optical. All tenants recently executed brand new 10-year leases with 2 (5-year) options to extend, demonstrating their commitment to the site. All leases feature rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. Additionally, each tenant operates under a NNN lease structure, limiting expense leakage for a future investor. The building features state-of-the art, brand new construction with modern amenities and design.

Southfield Center is strategically located at the hard corner intersection of S. 76th Street and W. Holmes Avenue with 26,900 vehicles passing by daily. The property is equipped with a large monument sign and possesses significant street frontage, creating excellent visibility along both cross-streets. The site benefits from nearby on/off ramp access to Interstate 43 (133,000 VPD), a major commuter thoroughfare serving the greater Milwaukee MSA. Additionally, the asset is ideally situated across from Southridge Mall, a 1.2 million SF regional shopping mall anchored by Dick’s Sporting Goods, Macy’s, and T.J. Maxx. The Southridge Mall is Greenfield’s premier shopping destination featuring over 116 retail, dining, and entertainment options. Other nearby national/credit tenants include Walmart Supercenter, Ross Dress for Less, Best Buy, Kohl’s, JOANN Fabrics, Party City, and more, further increasing exposure and crossover synergy for the asset. Moreover, the site is within close proximity to multiple apartment complexes including the Forte at 84South (268 units), Willowick Apartments (248 units), and Quail Hollow Apartments (120 units), providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by a population of more than 278,800 residents and 108,400 daytime employees with an average household income of $88,758.